UPI: If you make payments using UPI, know that SEBI has launched a new system; now you will get these benefits...

Nowadays, most people invest and make payments digitally. Whether it's through mutual funds or the stock market, transferring money is now a matter of seconds. However, cases of online fraud are also increasing. To address these risks and provide a secure investor experience, SEBI (Securities and Exchange Board of India) has taken a major step.

SEBI recently introduced "valid UPI handles," or @valid UPI IDs, which will help investors ensure that their funds are only going to SEBI-registered and authorized entities.

What is a @valid UPI handle?
SEBI's new system is based on the principle that every registered intermediary (such as brokers, mutual fund companies, etc.) will now be assigned a unique UPI ID. This ID will have two distinctive features: first, it will contain @valid, indicating that the ID is SEBI-valid. Second, it will contain an identifying symbol based on the entity's category, such as brk for brokers and mf for mutual funds.

For example, a broker's UPI ID might look like this: abc.brk@validhdfc, while a mutual fund's ID would be xyz.mf@validicici. This way, investors can quickly identify whether they're sending money to the correct entity.

How will payments be secure and easy?
SEBI has also added some important features to make this system completely user-friendly and secure. For example, visual confirmation means that when you make a payment using the @valid UPI ID, a "thumbs-up" symbol in a green triangle will appear on the payment screen. This means you're making a payment to a SEBI-registered entity.

Another feature will be a special QR code. Each valid entity will have a unique QR code with the corresponding "thumbs-up" logo in the center. This will make scanning payments easy and error-free.

SEBI Check: Now you can verify it yourself
SEBI has launched a new service, "SEBI Check," that allows any investor to verify that they are sending money to the correct entity. This tool allows you to verify bank account details and check the validity of UPI IDs. You can also verify other bank transfers, such as RTGS, NEFT, and IMPS. You can access SEBI Check by visiting the SEBI website or the Sarathi mobile app.

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