SEBI valid UPI Handle and SEBI Check: Pay Brokers Safely

You are about to send money to a stockbroker or mutual fund through UPI, and a doubt hits you: how do you know this UPI ID belongs to a genuine SEBI-registered firm and not a scammer copying its name? The simple answer is to check the UPI handle itself. Since 1 October 2025, every SEBI-registered investor-facing intermediary that collects your money must use an exclusive UPI ID ending in @valid, with a category tag such as .brk for brokers or .mf for mutual funds. If the handle does not end in @valid, or the SEBI Check tool cannot confirm it, do not pay. SEBI announced this framework in its press release and circular dated 11 June 2025, and the system went live on 1 October 2025.

This guide shows you exactly how to verify a payee before the money leaves your account, what the green thumbs-up cue means, and what to do if a handle is not verified.

Run this quick check every time you fund a trading account, buy a mutual fund directly, or pay an investment adviser or research analyst. It takes under a minute.

1. Look at the UPI handle. A genuine registered intermediary now has a UPI ID like xyz.brk@validhdfc or abc.mf@validicici. It must end in @valid joined to the name of a self-certified syndicate bank, and carry the correct category suffix. No @valid ending is your first red flag.
2. Open the SEBI Check tool. It is available on the SEBI website and inside the SEBI Saarthi mobile app. SEBI launched it alongside the new handles to let any investor confirm a payee.
3. Scan the QR code or enter the UPI ID. SEBI Check reads the @valid UPI ID, or you can type it in by hand. If you plan to pay by NEFT, RTGS or IMPS instead of UPI, you can enter the bank account number and IFSC code to verify those details the same way.
4. Read the result. A genuine, registered payee shows verified bank and account details and the green thumbs-up cue described below. If you get an error or a mismatch, stop.
5. Only then approve the payment. Pay solely to the verified handle. Never redirect the money to a personal account, a different bank, or a handle someone shares over WhatsApp, Telegram or a phone call.

The green thumbs-up cue you are looking for

When you pay a genuine SEBI-registered intermediary through a validated handle, or check it on SEBI Check, a distinctive green triangle with a thumbs-up icon appears. That symbol is the signal that the payee is a real, registered firm and the bank account has been validated. If that green thumbs-up is missing, or you see an error message instead, treat the entity as unauthorised and do not transfer any funds.

Around 8,000 registered intermediaries were brought under this system. The handle is built from three parts: a username the firm chooses, a category suffix that tells you what kind of entity it is, and the exclusive @valid tag bound to a syndicate bank. These handles are issued only through NPCI and self-certified syndicate banks, so an outsider cannot create one.

The key idea is simple: the @valid ending cannot be faked, because only SEBI-registered intermediaries can obtain it through the banking syndicate. A handle without it is not a registered intermediary collecting investor funds.

If a UPI ID does not end in @valid, if SEBI Check returns an error, or if there is no green thumbs-up, the safest action is the same: do not pay. A genuine broker or fund will always have a validated handle, so a missing one points to either a stale ID or an outright fraud.

1. Hold the payment. Do not transfer money on the promise of guaranteed returns, a “limited slot”, or pressure to pay quickly. Those are classic fraud signals.
2. Ask the firm for its @valid handle. A registered intermediary can give you its validated UPI ID and you can re-check it on SEBI Check. If it cannot, that is your answer.
3. Report it to SEBI through SCORES. SEBI runs the SCORES platform for investor complaints against registered intermediaries. Lodge a complaint there with the UPI ID, screenshots, and payment details. You can read more on our guide at SEBI SCORES complaint against a broker.
4. Warn your bank. If you have already paid a suspect handle, inform your bank immediately and raise a fraud complaint so they can attempt to freeze the transfer.

Verifying first is far easier than recovering money later. The whole point of the @valid framework is to let you stop a fraudulent payment before it happens, not chase it afterwards.

Yes. From 1 October 2025, SEBI made validated @valid UPI handles mandatory for investor-facing registered intermediaries that collect money from investors, such as brokers, mutual funds, investment advisers and research analysts. SEBI announced the framework in its press release and circular dated 11 June 2025.

SEBI Check is a free verification tool from SEBI. You can scan a payee's QR code or enter the @valid UPI ID to confirm it belongs to a registered intermediary and see the validated bank details. It is available on the SEBI website and inside the SEBI Saarthi mobile app. You can also verify a bank account number with IFSC if you pay by NEFT, RTGS or IMPS.

It is the visual confirmation that the payee is a genuine, SEBI-registered intermediary whose bank account has been validated. If you see the green thumbs-up when paying or checking a handle, the payee is legitimate. If it is missing or you get an error, do not pay.

Be cautious. Since the framework is now mandatory, a registered intermediary collecting investor funds should have a validated @valid handle. Ask the firm directly for its @valid UPI ID and verify it on SEBI Check before paying. If it cannot provide one, treat the request as unverified and hold your payment.

Report it to SEBI through the SCORES platform, the official channel for complaints against registered intermediaries. Include the UPI ID, screenshots and payment details. If money has already left your account, also inform your bank at once to raise a fraud complaint.

Before your next investment payment, save the SEBI Check tool to your phone and make the @valid check a habit, just like you check a delivery address before sending a parcel. Verify the handle, look for the green thumbs-up, and only then approve the transfer.

For more on asserting your rights and using public-information tools effectively, see The RTI Playbook. You can also explore our other consumer-protection and finance guides on the RTI Wiki homepage.

• SEBI press release and circular dated 11 June 2025, introducing Validated UPI Handles and SEBI Check, sebi.gov.in
• Business Today, SEBI mandates exclusive @valid UPI handles for registered intermediaries from Oct 1, businesstoday.in
• Business Standard, Sebi introduces @valid UPI handle to curb fraudulent transactions, 11 June 2025, business-standard.com
• Groww, What are Validated UPI Handles and the SEBI Check Tool, groww.in

Verifying a SEBI-registered broker and a valid UPI handle for trading is critical to avoid fraud. Here is the complete guide:

1. Step 1: Why this matters. (a) fraudsters create fake broker websites and apps that look identical to genuine brokers, (b) they use UPI handles (virtual payment addresses) to collect money from victims, © the money is transferred to mule accounts and disappears, (d) SEBI has warned about unauthorized collective investment schemes (CIS) and fake brokers.
2. Step 2: Verify SEBI registration. (a) visit SEBI's website (sebi.gov.in), (b) go to “Intermediaries” → “Stock Brokers” (or “Portfolio Managers”, “Investment Advisers”, “Research Analysts” as applicable), © search by: (i) broker name, (ii) registration number (e.g., INZ000012345), (d) the SEBI database shows: (i) registration status (Active/Suspended/Cancelled), (ii) validity period, (iii) address, (iv) contact details, (e) also check the exchange membership (BSE/NSE/MCX — the broker must be a member of at least one exchange).
3. Step 3: Verify exchange membership. (a) visit BSE (bseindia.com — “Membership” section), (b) visit NSE (nseindia.com — “Membership” section), © search by broker name or code, (d) the exchange database shows: (i) member code, (ii) membership status, (iii) clearing member status, (e) a genuine broker will be a member of BSE/NSE and a clearing member of the respective clearing corporation (ICCL/NCL).
4. Step 4: Verify UPI handle. (a) a genuine SEBI-registered broker does NOT accept payments to personal UPI handles (like name@okaxis or name@ybl), (b) all payments must go to: (i) the broker's bank account (via NEFT/RTGS), (ii) the exchange's escrow account (via the broker's payment gateway), © if someone asks you to pay to a UPI handle for trading/investment: it is almost certainly fraud, (d) check the UPI handle on the UPI app (the merchant name should match the registered broker name).
5. Step 5: Red flags. (a) unsolicited WhatsApp/Telegram messages offering trading tips, (b) guaranteed returns (no genuine broker guarantees returns), © pressure to invest quickly (“limited time offer”), (d) payment to personal UPI handle or personal bank account, (e) the broker is not on SEBI's database, (f) the broker's website is a copy of a genuine broker's website (check the URL carefully), (g) the broker asks for your demat password or POA (Power of Attorney) without explanation.
6. Step 6: How to report fraud. (a) file a complaint on SEBI SCORES (scores.sebi.gov.in), (b) file a complaint on the Exchange (BSE/NSE — the exchange has an investor grievance mechanism), © file a cyber fraud complaint (cybercrime.gov.in — 1930), (d) file an FIR at the local police station, (e) report to your bank (request a chargeback if paid by card or a transaction dispute if paid by UPI).
7. Step 7: File RTI. File RTI with SEBI asking for: (a) the registration status of the broker, (b) the number of complaints against the broker, © the action taken on complaints, (d) the number of brokers suspended/cancelled in the last year.

See SEBI SCORES and Fake Website Complaint.