Sebi extends deadline for UPI as payment method for retail IPO investors till June 30

Securities and Exchange Board of India (SEBI) has extended the deadline for implementation of the first phase of Unified Payments Interface (UPI) as an alternative payment mechanism for retail investors buying shares in a public issue to June 30, 2019 from March 31, 2019.
In November 2018, SEBI has issued a circular to introduce the use of Unified Payments Interface (UPI) as a payment mechanism with Application Supported by Block Amount (ASBA) for applications in public issues by retail individual investors through intermediaries.

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