Securities and Exchange Board of India (SEBI) is introducing a new mechanism to enhance payment security in the securities market via UPI. SEBI’s proposal includes creating unique UPI addresses for registered market intermediaries. Which will allow investors to easily verify legitimate entities and avoid fraud.
SEBI also have a plan to increase the daily UPI transaction limit for capital market payments upto Rs 5 lakh, from current limit Rs 2 lakh.
To ensure the secure transactions, a green triangle with a thumbs-up icon will appear when payments are made to verified intermediaries. This initiative will open for public comments until February 21. SEBI aims to tackle fraud activities by distinguishing legitimate entities from unregistered ones.
Read more at: