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The Securities and Exchange Board of India released a circular which increases the payment for IPOS by retail investors through a unified payment interface (UPI). Earlier the maximum payment for the IPOs that could be made through UPI was capped at Rs.2 Lakh, and now it has increased to Rs.5 Lakh. This shall be applicable from May 1, 2022.
National Payment Corporation of India has said that the intermediaries need to make sure their systems are ready to accommodate the latest changes for processing the transactions. The body further stated that almost 80% of the SCSBs/Sponsor Banks/ UPI Apps have taken the necessary steps and complied with the required changes.
SEBI revises the limit of payment through UPI for retail investors
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