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SEBI Set UPI Payment Limit To Invest In Public Issues

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The Securities and Exchange Board of India, under the supervision of the Ministry of Finance, has imposed a UPI payment limit for investors applying for an initial public offering (IPO). The regulatory agency increased the UPI limit to Rs 5 lakhs on Tuesday.

 

Post NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit, the regulatory body for securities and commodity market SEBI has made the decision to hike the limit.

SEBI Set UPI Payment Limit To Invest In Public Issues

"NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit and confirmed that as on March 30, 2022, more than 80% of SCSBs/Sponsor Banks/UPI Apps have conducted the system changes and have complied with the NPCI provisions," SEBI has said in an official statement dated 5th April 2022.

SEBI further added that "Accordingly, it has been decided that all Individual Investors applying in Public Issues where the application amount is upto 5 Lakhs shall use UPI and shall also provide their UPI ID in the bid-cum-application form submitted."

 

The revised limit will apply to public issues that start trading on or after May 1, 2022.

Read more about: sebi
Story first published: Wednesday, April 6, 2022, 9:28 [IST]
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