Nowadays most people invest and pay digitally. Whether it is a mutual fund or a stock market, transfer of money is now a matter of a few seconds. However, along with this, cases of online fraud are also increasing. SEBI (Securities and Exchange Board) has taken a big step to deal with these risks and give safe experience to investors.
SEBI has recently launched the “valid UPI handle” i.e. @valid UPI IDS, which will help investors to ensure that their money is going to SEBI-regulated and authorized institutions only.
What is @Valid UPI handle?
SEBI’s new system is based on the fact that every registered mediator (such as broker, mutual fund companies etc.) will now be given a special UPI ID. There will be two special things in this ID. First, it will be written @Valid which suggests that this ID is valid by SEBI. And second, it will have an identity mark according to the category of the institution, such as BRK for Broker, MF for Mutual Fund.
For example, the UPI ID of a broker can look like this Abc.brk@validhdfc, while the id of mutual funds will be xyz.mf@validici. In this way, investors will be able to identify immediately whether they are sending money to the right institution.
How will it be safe and easy payment?
SEBI has added some more necessary features to make this system completely user-friendly and safe. For example, when you pay a visual confirmation, that is, when you pay on the @Valid UPI ID, the payment will be seen in the green triangle on the screen. This means that you are paying to the Sebi-regulated institution.
The second feature will be the special QR code i.e. every valid organization will have a special QR code, in the middle of which the same will be the logo of “Thums-up”. With this, it will be easy and without mistake to pay.
SEBI check: Now you can confirm yourself
SEBI has launched a new service “SEBI check”, so that any investor can check whether he is sending money to the right institution or not. Through this tool, you can confirm the bank account details and check the validity of the UPI ID. Also, other bank transfer like RTGS, NEFT, IMPS can also be investigated. You can use SEBI check by visiting SEBI website or charioteer mobile app.