Published on June 17, 2025. EST READ TIME: 2 minutes
Effective July 1, 2025, the Securities and Exchange Board of India (SEBI) will require investors applying for public issues, such as Initial Public Offerings (IPOs) and Rights Issues, to use only verified UPI (Unified Payments Interface) IDs for payment. This crucial regulatory change is a direct response to a surge in cyber frauds, where unscrupulous elements have exploited the system by submitting applications with unverified UPI IDs, leading to the blocking of funds in investor accounts.
Under the new directive, only those UPI IDs that have been verified by the investor's bank will be accepted for ASBA (Application Supported by Blocked Amount) applications. This measure significantly enhances the security framework for public issue subscriptions, making it harder for fraudsters to manipulate the system. SEBI's move aims to protect retail investors, streamline the application process by ensuring legitimate transactions, and further build trust in India's capital markets.
Source: indianexpress.com
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