The Hindu Business Line

SEBI extends UPI timeline to June 30


Market regulator SEBI on Wednesday extended the timeline for implementa­tion of Phase 1 of Unified Payments Interface (UPI) as an alternativ­e payment mechanism for retail investors buying shares in a public issue. To ensure smooth transition to UPI in ASBA (applicatio­n supported by blocked amount) and in the backdrop of the representa­tion received from various stakeholde­rs, the implementa­tion deadline has been extended to June 30, SEBI said. However, the timeline for implementi­ng Phase 2 and Phase 3 shall remain unchanged from the date of completion of Phase 1, said a SEBI circular.

Newspapers in English

Newspapers from India