Sebi to introduce alternative payment mechanism for retail IPO investors from Jan
Sebi Thursday said it will launch Unified Payments Interface as an alternative payment option for retail investors, buying shares in a public issue, in a phased manner from January 1 next year, which will cut listing time for an IPO to three days from six at present.The new mechanism will increase the efficiency of the existing system and curtail the need for manual intervention.UPI is an instant payment system developed by the National Payments Corporation of India (NPCI). It allows instant transfer of money between any two person’s bank accounts…
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