India's Securities and Exchange Board (SEBI) has implemented new rules requiring all registered financial intermediaries—such as stockbrokers, mutual fund companies, portfolio managers, and investment advisors—to use authenticated UPI handles ending with "@valid" and displaying a green verification checkmark. These validated payment IDs will be the only authorized channels for investor transactions, substantially minimizing fraud risks and preventing impersonation attempts. Banks will distribute these "@valid" identifiers exclusively after confirming intermediary credentials through SEBI's official portal.

 

SEBI will introduce a verification platform called "SEBI Check" to support this security measure. This tool will allow investors to authenticate UPI identifiers, QR codes, banking details, and IFSC codes belonging to intermediaries before processing any payments. The system guarantees that money transfers reach legitimate, SEBI-authorized organizations.

 

The new framework becomes operational on October 1, 2025, encompassing approximately 8,000-9,000 intermediaries. During a transitional phase lasting until December 2025, existing UPI payment methods will remain functional alongside the new system. After this period, only verified handles will be accepted. The current 5 lakh daily UPI transaction limit for capital market activities will continue unchanged.

 

This measure enhances confidence in UPI-based securities trading by guaranteeing complete transaction tracking and openness. The initiative complements other regulatory developments, including NPCI's forthcoming mandate effective June 30 requiring beneficiary identification in UPI transfers, providing additional protection against fraudulent schemes.