The Securities and Exchange Board of India (SEBI) has introduced a verified UPI payment mechanism to combat an uptick in cyber fraud where scammers impersonate legitimate brokers. Under this initiative, all SEBI‑registered intermediaries—such as brokers and mutual funds—will be assigned unique, verified UPI IDs, accompanied by real-time confirmation icons (like a green “thumbs-up”) to reassure investors they are paying accredited entities .The mechanism also enforces transaction limits (up to ₹5 lakh per day) to reduce misuse . Additionally, SEBI plans to release a ‘Sebi Check’ tool, enabling investors to verify UPI IDs before initiating transfers, thereby significantly reducing the risk of falling prey to fake brokers.

Overall, this digital-first move streamlines fund transfers, enhances transparency, and bolsters investor protection in the securities market—restoring trust and cutting down opportunities for fraud.

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