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.