To curb fraud and bolster investor trust, Sebi has mandated a new Unified Payments Interface (UPI) payment structure for all registered market intermediaries collecting funds from investors. The mechanism will go live from October 1, 2025, Sebi Chairperson Tuhin Kanta Pandey announced on Wednesday, reported PTI.The new UPI address framework is aimed at combating impersonation by unregistered entities and ensuring that investors transfer money only to verified intermediaries. “This innovative mechanism is set to significantly improve the safety and accessibility of financial transactions within the securities market by providing a verified and secure payment channel,” Pandey said.In addition to the mandatory UPI update, Sebi is also introducing a new tool called “Sebi Check”. The feature will allow investors to confirm the legitimacy of a UPI ID by scanning a QR code or manually entering the UPI ID to retrieve and verify associated bank details, including account number and IFSC code.The Securities and Exchange Board of India had floated a consultation paper on this proposal earlier in January 2025. The regulator expects these reforms to significantly curb fraudulent activities carried out by impersonators and boost confidence in digital financial transactions across the market ecosystem.