Sebi has rolled out @valid UPI handles followed by category specific suffixes to make digital payments safer and authentic for retail investors.
UPI IDs of Sebi-registered investor-facing intermediaries will now carry the exclusive @valid handle. This is done to enable retail investors to identify legitimate entities.
It is important to note that valid UPI handles are introduced as an additional payment option for investors. This compliments existing payment modes, allowing investors the flexibility to continue using the method they are most comfortable with.
Sebi advises all individual investors to actively use the exclusive @valid handle to make digital payments to Sebi-registered intermediaries.
These are the key features of this new rule:
1. Two characteritics: This new UPI ID will carry two distinct characteristics. One it will have valid in it. Second, it will carry intials to identify the type of intermediary such as brk for brokers and mf for mutual funds. For example abc.brk@validhdfc; xyz.mf@validicici.
2. Visual verification: There will also be a distinctive thumbs up inside a green triangle icon which will appear when you make payments through the @valid UPI handle. This is meant to confirm transaction authenticity.
3. Special QR code: A specially designed QR code, featuring the “thumbs-up” logo at its centre (see image above), will enable convenient and error-free transactions. The presence of this QR code assures investors that payments are being made to SEBI-registered intermediaries.
Additionally, Sebi has developed a new functionality called Sebi check through which investors -can confirm the authenticity of bank account details and UPI IDs of payee. This can be done by clicking here or on Sebi’s Saarthi app.
Notably, this option of Sebi check is available in all digital payment types: valid UPI handles as well as bank transfers such as RTGS, NEFT and IMPS.
Capital markets regulator has urged all individual investors to verify the authenticity of the bank account details at SEBI Check at the time of making payments to SEBI-registered intermediaries.
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