The Multi Commodity Exchange of India Limited (MCX) on August 11, 2026, issued Implementation of "@valid" UPI IDs for Investor-Facing Bank Accounts by SEBI Registered Intermediaries.
Following up on SEBI's June 11, 2025 circular on adopting Standardised, Validated and Exclusive UPI IDs for payment collection by registered intermediaries, SEBI issued a clarification on August 07, 2026 regarding implementation of "@valid" UPI IDs for investor-facing bank accounts maintained by Members (enclosed as Annexure-2, with FAQs as Annexure-3). All investor-facing/upstreaming bank accounts receiving funds from individual or non-institutional investors must now be linked to a "@valid" UPI ID, making them verifiable through SEBI Check.
Members must apply for a "@valid" UPI handle via the MCX portal (Membership Tab → UPI ID Request handle → Request new UPI IDs → Add New UPI ID), and those registered with multiple exchanges should apply through only one exchange. After submitting the request, Members must separately complete documentation with their respective banks to finalize the UPI handle. Full compliance is required within T+30 days from August 07, 2026 — i.e., by September 06, 2026.
[Circular No. MCX/MEM/461/2026]
