The Securities and Exchange Board of India has announced a new payment security framework to help investors identify legitimate SEBI-registered, investor-facing intermediaries and curb unauthorized fund collection. From 1 October 2025, payments collected by such intermediaries via Unified Payments Interface (UPI) will move to a structured “Validated” UPI address mechanism featuring an exclusive “@valid” handle, alongside a new investor verification functionality called “SEBI Check”. Under the framework, intermediaries that collect funds from investors must use a mandatory UPI address structure with a readable username and a category-identifying suffix (for example, .brk for a stock broker and .mf for a mutual fund). The handle will be “@valid” combined with the name of the self-certified syndicate bank, and these validated handles will be allocated by the National Payments Corporation of India only for payment collection by SEBI-registered intermediaries. Investors will see a “thumbs-up inside a green triangle” icon when paying to a validated handle, and intermediaries must also generate QR codes displaying the same logo. SEBI Check is intended to let investors verify a UPI ID by scanning a QR code or entering it manually, and to confirm associated bank details including the bank account number and Indian Financial System Code.
Securities & Exchange Board of India 2025-06-11
Securities and Exchange Board of India to introduce validated UPI handles and SEBI Check verification for payments to registered intermediaries from 1 October 2025
SEBI has introduced a payment security framework to enhance investor protection and prevent unauthorized fund collection. Effective 1 October 2025, SEBI-registered intermediaries must use a structured UPI address with a “@valid” handle and a category-identifying suffix, verified by the National Payments Corporation of India. The framework includes a new investor verification tool, “SEBI Check,” allowing investors to confirm UPI IDs and associated bank details.