SEBI to launch 'SEBI Check' tool to verify authenticity of UPI addresses

The Securities and Exchange Board of India (SEBI) will launch a new UPI verification mechanism aimed at safeguarding investor funds in capital market transactions.

SEBI Chairman Tuhin Kanta Pandey announced the initiative on June 11, stating that the regulator will introduce ‘SEBI Check’, a tool designed to help investors confirm the authenticity of UPI addresses in real time. “This is part of our broader commitment to bring enhanced transparency and security to retail investors,” he said.

The new system, set to go live on October 1, 2025, will enable investors to validate the UPI handles of SEBI-registered intermediaries before transferring money, ensuring that payments are made only to verified entities.

The framework will apply to all SEBI-registered entities involved in fund collection. SEBI will soon issue a circular detailing the operational process.

According to the proposed mechanism, the Payments Corporation of India (NPCI) will work with banks to allocate UPI handles, while banks will make the necessary system changes to integrate the tool.

"The change will be for the intermediaries and not investors," he added.

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All investors interacting with market intermediaries such as investment advisers, research analysts, and brokers will be required to transition to the new UPI verification system by October 1. The move is expected to cover a broad universe of entities, with nearly 9,000 SEBI-registered intermediaries likely to come under the new system.

Once live, intermediaries will request UPI handles via SEBI’s intermediary portal, which banks will then verify and assign in their systems.