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 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.