Market regulator SEBI is likely to implement a UPI-powered ‘Pay Right’ system within the next one month, sources told Zee Business. The proposed Pay Right initiative is aimed at protecting investors against fraudulent financial transactions, ensuring secure and seamless payments to intended stock brokers and other intermediaries.
SEBI has prepared the plan with a special focus on investors’ safety.
Under the arrangement, only SEBI-registered brokers, mutual fund houses and other related entities will be issued special ‘@payright’ UPI handles, according to the sources.
Transaction limit under ‘Pay Right’ UPI
The sources said that while a limit of Rs 5 lakh will apply to transactions under this mode, investors will have to use modes such as NEFT and RTGS for larger sums.
Currently, a limit of Rs 2 lakh per day applies to UPI transactions for capital market investments. Under the proposed Pay Right system, this limit is set to be raised to Rs 5 lakh per day, in order to allow investors greater flexibility in transactions.
The market regulator review and revise this limit from time to time, if and when needed.
SEBI Pay Right UPI | Verified ‘@payright’ handles
Under the system, valid UPI IDs will have green ‘thumbs up’ signs, making it easier for the customer to identify them. These IDs will only be issued after a rigorous OTP and SEBI portal verification-based process, said the sources.
Brokers and fund houses to share details with investors digitally
Under the arrangement, banks along with market infrastructure institutions (MIIs)—entities like stock exchanges, clearing corporations and depositories—will run outreach programmes and awareness drives for their customers, providing them with details related to the system through digital means such as SMS, email, websites and social media.
According to the sources, the Pay Right UPI IDs are likely to be issued in the formats ‘abc.bkr@payrighthdfc‘ or ‘abc.mf@payrighthdfc‘ in consultation with banks, SEBI and NPCI.
What is Pay Right?
SEBI has been planning to introduce a dedicated UPI-enabled payment system for Dalal Street aimed at enabling investors from making secure payments to brokers and other market entities.
This special initiative is set to offer the following:
- Unique UPI ID for verified brokers and other intermediaries
- Real-time verification
- Higher transaction limits for investors
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
