UPI blocking mechanism enables retail investors to apply in REIT public issues with validated mandates and prescribed timelines. An additional Unified Payments Interface (UPI) mechanism allows retail investors to apply in REIT public issues by blocking funds via a bank-account-linked UPI ID: stock exchanges validate PAN and Demat details with depositories in near real time, sponsor banks initiate UPI mandate requests which investors authorize in their UPI apps to block funds, and sponsor banks relay block-status to stock exchanges and the Registrar for reconciliation; registrars undertake allotment, trigger debits and unblocking post-allotment, and issuers, intermediaries and collecting banks have specified operational, disclosure and coordination obligations to meet prescribed timelines for listing and trading.
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Provisions expressly mentioned in the judgment/order text.
UPI blocking mechanism enables retail investors to apply in REIT public issues with validated mandates and prescribed timelines.
An additional Unified Payments Interface (UPI) mechanism allows retail investors to apply in REIT public issues by blocking funds via a bank-account-linked UPI ID: stock exchanges validate PAN and Demat details with depositories in near real time, sponsor banks initiate UPI mandate requests which investors authorize in their UPI apps to block funds, and sponsor banks relay block-status to stock exchanges and the Registrar for reconciliation; registrars undertake allotment, trigger debits and unblocking post-allotment, and issuers, intermediaries and collecting banks have specified operational, disclosure and coordination obligations to meet prescribed timelines for listing and trading.
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