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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

NPCI reiterates SEBI Circular on Adoption of Standardized, Validated and Exclusive UPI IDs for Payment Collection by SEBI Registered Intermediaries from Investors through UPI

03-Jul-2025 | NPCI/UPI/OC/217/2025-26

SEBI has mandated that all SEBI-registered investor-facing intermediaries must use standardised, validated, and exclusive UPI IDs for collecting investor payments to ensure trust and transparency with effect from 01st October 2025. 1. Only Self Certified Syndicate Banks (SCSBs) can request handles in the format @validbankpsp. These UPI IDs must be issued only to verified SEBI-registered intermediaries and must be used exclusively for payment collection (MCC code 6211). 2. Handle Specifications: a. Maximum length: 10 characters. b. No other use apart from SEBI-related payments is allowed. 3. Existing mandates continue as-is until renewal. For new mandates, a structured UPI ID format like <Merchant ID>.<Aggregator ID>.<Intermediary username>@validbankpsp must be used. 4. All UPI participants must ensure VPAs are not misleading or gibberish, following earlier guidelines published by NPCI. 5. UPI apps must display a thumbs-up icon in a green triangle when customers pay to @validbankpsp handles to confirm the intermediary is SEBI-registered. For more information, please refer to the official document.

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Corporate Laws

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