https://www.taxtmi.com/circulars?id=63138 Extension of Phase II implementation of Unified Payments Interface (UPI) with ASBA is directed until March 31, 2020, retaining the T+6 listing environment and prescribing detailed operational timelines. Retail applications via intermediaries must include UPI IDs; stock exchanges, sponsor banks, issuer banks, SCSBs, registrars, merchant bankers and NPCI must perform API-based bid validation, mandate initiation, funds blocking and multilayered reconciliation. Sponsor banks and merchant bankers have specified cut-offs and daily reporting obligations to consolidate data and share it with SEBI; liability for failed transactions rests with the participant where the transaction lifecycle halts. en-us Fri, 08 Nov 2019 00:00:00 +0530 Thu, 26 Feb 2026 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=63138 Extension of Phase II implementation of Unified Payments Interface (UPI) with ASBA is directed until March 31, 2020, retaining the T+6 listing environment and prescribing detailed operational timelines. Retail applications via intermediaries must include UPI IDs; stock exchanges, sponsor banks, issuer banks, SCSBs, registrars, merchant bankers and NPCI must perform API-based bid validation, mandate initiation, funds blocking and multilayered reconciliation. Sponsor banks and merchant bankers have specified cut-offs and daily reporting obligations to consolidate data and share it with SEBI; liability for failed transactions rests with the participant where the transaction lifecycle halts. Circulars SEBI Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63138