SEBI Mandates “@valid” UPI Handles for Investor-Facing Intermediaries from October 1, 2025The Securities and Exchange Board of India has introduced a standardised UPI payment framework for selected SEBI-registered investor-facing intermediaries. However, where an investor chooses UPI, payment should be made only through the validated UPI ID of the intermediary. Structure of a Validated UPI IDA validated UPI ID contains a business-related username, a category-specific suffix and the exclusive “@valid” bank handle. However, where UPI is selected, the validated UPI ID should be used. Covered intermediaries are required to generate the prescribed QR code through the authorised utility available on the SEBI Intermediary Portal.