https://www.taxtmi.com/circulars?id=57688 Introduction of Unified Payments Interface (UPI) as an alternate payment mechanism integrated with Application Supported by Blocked Amount (ASBA) for retail individual investors applying through intermediaries, enabling electronic one time mandates to block funds at bidding. The circular prescribes a three phase rollout commencing January 1, 2019, defines roles for Sponsor Banks and Self Certified Syndicate Banks (SCSBs), mandates real time validation of PAN and demat details by stock exchanges with depositories, requires NPCI UPI certification and mock trials, and sets reconciliation, cut off and T+6 listing timetables during transition, with Phase III to introduce a final reduced timeline. en-us Thu, 01 Nov 2018 00:00:00 +0530 Thu, 26 Feb 2026 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=57688 Introduction of Unified Payments Interface (UPI) as an alternate payment mechanism integrated with Application Supported by Blocked Amount (ASBA) for retail individual investors applying through intermediaries, enabling electronic one time mandates to block funds at bidding. The circular prescribes a three phase rollout commencing January 1, 2019, defines roles for Sponsor Banks and Self Certified Syndicate Banks (SCSBs), mandates real time validation of PAN and demat details by stock exchanges with depositories, requires NPCI UPI certification and mock trials, and sets reconciliation, cut off and T+6 listing timetables during transition, with Phase III to introduce a final reduced timeline. Circulars SEBI Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=57688