Sources told Zee Business that market regulator SEBI may implement a UPI-driven “payment rights” system in the next month. The proposed salary initiative is designed to protect investors from fraudulent financial transactions and ensure safe and seamless payments to expected stockbrokers and other intermediaries.
SEBI has taken special attention to investor safety and prepared the plan.
Sources said that under the arrangement, only SEBI registered brokers, mutual fund houses and other related entities will be issued with special “@payright” UPI handles.
“Correct” transaction limit under UPI
Sources said that while the limit for transactions that would be applicable to Rs 5 lakh under this model, investors will have to use models such as NEFT and RTG for larger sums.
Currently, the daily limit of Rs 2 lakh is applicable to UPI transactions invested in capital markets. Under the proposed compensation correct system, the limit is set to increase to Rs 5 lakh per day to give investors greater flexibility in trading.
Market regulators review and modify this limitation if required, if required.
Sebi Pay Right upi | Verified “@payright” handle
Under the system, a valid UPI ID will have a green “thumb” logo, making it easier for customers to identify them. Sources said these IDs will only be issued after being based on a strict OTP and SEBI portal verification process.
Brokers and funded homes to share detailed information digitally with investors
Under the arrangement, banks, as well as market infrastructure institutions (MIISs) such as stock exchanges, clearing companies and depositors, will provide clients with outreach programs and awareness drivers and provide detailed information related to the system through digital means such as SMS, email, website, website and social media.
According to sources, when negotiating with banks, SEBI and NPCI, the right UPI ID may be issued in the format “abc.bkr@payrightthdfc”.
What is salary?
SEBI has been planning to introduce a dedicated UPI-able-abled payment system for Dalal Street, designed to enable investors to make secure payments to brokers and other market entities.
This special initiative will provide the following:
- Unique UPI ID for verified brokers and other intermediaries
- Real-time verification
- Higher trading restrictions for investors
