SEBI mandates dedicated UPI address for registered intermediaries

SEBI introduces @valid UPI handle for secure payments, combating fraud, with awareness campaigns and SEBI Check app.

The Securities and Exchange Board of India (SEBI) is set to introduce a validated UPI handle for the investor-facing intermediaries to ensure secure payments and combat fraud.

The handle will be “@valid” and is expected to come into force from October 1, 2025. The initiative comes into force after consultation with various stakeholders, including NPCI. “To make it convenient for investors to identify, the UPI address of intermediaries shall use a unique and easily relatable handle “@valid”, combined with the name of the self-certified syndicate banks. These handles will be allocated by NPCI. For example, the complete handle, for a registered broker, will respectively look like: abc.bkr@validhdfc,” SEBI said in its circular.

A valid payment will show a thumbs-up symbol within a green triangle to ensure awareness among the non-English speaking population.

“This means that 8000 to 9000 intermediaries including brokers, bankers to an issue, research analysts, investment advisors among others, will have to transition to the new UPI handle to collect payments and fees,” said Prabhas Kumar Rath, Chief General Manager, Deparment of Economic and Policy Analysis (DEPA) said in a media interaction.

No existing SIP will be affected, and the old IDs will be discontinued from December 11, 2026, SEBI said in the circular. “SEBI plans to run campaigns for investor awareness and cyber fraud over the next two years, for which the budget and intent are present,” said Chairperson Tuhin Kanta Pandey.

Intermediaries have been instructed to create awareness about the new initiatives and also display them prominently. However, investors will have to verify the IDs and make sure that they transact only with verified intermediaries, and they can do this through another new tool called the SEBI Check application. Investors can check the validity of the accounts where they have to pay through the SEBI Check app. The regulator plans to collaborate with Google Playstore to make sure that only valid apps are platformed.