NEW DELHI: HDFC Bank has executed transactions via the NPCI’s UPI payments app as part of the ‘UPI for secondary market’ facility, according to a company statement. The app went live on Monday.The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI).
Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment via 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. On December 29, the NPCI had said ‘UPI for secondary market’ facility will go live from January 1 in Beta phase for the equity cash segment.