Will the existing non-UPI channels for making application in public issues will be available for retail investors after introduction of UPI?

Will the existing non-UPI channels for making application in public issues will be available for retail investors after introduction of UPI?

  1. Yes. In Phase I, all existing channels will be available for retail investors.
  2. From Phase II onwards, the option of submitting non-UPI application with intermediaries would be discontinued.
  3. Phase II onwards, investors submitting application forms with intermediaries have to necessarily use UPI as a payment mechanism.
  4. The other existing channels, such as submitting applications direction with SCSBs or using 3-in-type accounts will continue to be available.