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Stockbrokers and other market intermediaries have been directed to ensure that every bank account through which investors can directly transfer money is linked to a validated ‘@valid’ UPI ID. In a circular, exchanges asked them to complete the process by September 6. The requirement covers trading and margin collection accounts, among others, and even alternate […] The original article was published on %%sitedesc%%. Read more: %%permalink%%
Stockbrokers and other market intermediaries have been directed to ensure that every bank account through which investors can directly transfer money is linked to a validated ‘@valid’ UPI ID.
In a circular, exchanges asked them to complete the process by September 6.
The requirement covers trading and margin collection accounts, among others, and even alternate accounts occasionally shared with investors.
The direction follows market regulator’s efforts against fraudsters, through measures like Sebi check and verification of the UPI handles through which any payment is made to any regulated entity.
The original article was published on %%sitedesc%%. Read more: %%permalink%%
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