HDFC Bank goes live with NPCI-developed UPI in secondary market platform!
Banking & Finance
Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment through block mechanism, on an optional basis, for the secondary market on the lines of Application Supported by Blocked Amount (ASBA) for primary markets where investors' funds will continue to remain in their savings account with the required funds being blocked instead of the investor having to upfront transfer the amount to the broker's account for placing trades.
The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI).
HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live on Monday, the lender said in a statement.
HDFC Bank goes live with NPCI-developed UPI in secondary market platform
CEO: Sashidhar Jagdishan
Founded: August 1994, Mumbai
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