SEBI proposes mandatory UPI block mechanism facility for secondary market trading

Quick Summary:

The Beta version of trading through block mechanism for secondary markets was launched on January 1, 2024, for individuals and HUFs, and was made applicable only to the cash segment.

The regulator had introduced the use of RBI-approved Unified Payments Interface (UPI) with the facility of blocking of funds, as a payment mechanism for retail investor applications submitted through intermediaries for public issues such as IPO from January 2019.

The facility is currently optional for investors, and not mandatory for Trading Members (TMs) to offer as a service to clients.

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Article Details

Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: India

Topics: Sebi Funds Secondary Clients Block Cash Trading Segment Facility Mechanism Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 10:12:09 (3 days ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 544 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 22294842

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Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

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