SEBI issued circular bearing reference no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/95 dated 21-June-2023 on
trading preferences by clients.
As per the said circular, if you are already registered for a particular segment on an Exchange, your account
by default will be enabled for the said segment of the other Exchange(s) as well, in which ICICI Securities
has an active membership.
Presently, ICICI Securities has an active membership of the following exchanges:
Cash (NSE & BSE)
Equity Derivatives (NSE & BSE)
Currency Derivatives (NSE)
In view of the above, your account will be enabled for both the Exchanges depending on the segments in which
you have been already registered or trading, if already not enabled.
If you don't wish to enable your account on either of the above Exchanges, kindly notify us in writing
on equity.settlements@icicisecurities.com.
SEBI Research Analyst
SEBI Research Analyst Registration Number - INH000000990 Investment in securities market are subject to
market risks. Read all the related documents carefully before investing. Registration granted by SEBI and
certification from NISM in no way guarantee performance of the intermediary or provide any assurance of
returns to investors. None of the research recommendations promise or guarantee any assured, minimum or risk
free return to the investors.
Name of the Compliance officer (Research Analyst): Mr. Atul Agrawal, Contact number: 022-40701000 E-mail
Address : complianceofficer@icicisecurities.com
For any queries or grievances: Mr. Jeetu Jawrani, Email
address: headservicequality@icicidirect.com Contact Number: 18601231122
SEBI Investor website
SEBI Guidelines on Short Selling
Broad Framework for Short Selling:
SEBI vide circular dated SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/1 dated January 05,2024 reiterated the framework
for short selling. The circular, inter alia, Below are the salient points:
Naked short selling shall not be permitted in the Indian securities market and accordingly, all investors
would be required to mandatorily honor their obligation of delivering the securities at the time of
settlement.
No institutional investor shall be allowed to do day trading i.e., square-off their transactions
intra-day.
The securities traded in F&O segment shall be eligible for short selling.
The institutional investors shall disclose upfront at the time of placement of order whether the
transaction is a short sale.
Key Points
In accordance with the aforementioned guidelines, you are requested to kindly disclose to your dealer on
an upfront basis at the time of order placement if any transaction is of short sale in nature.
ICICI Securities will the collate the requisite details and report the same to the respective stock
Exchanges.
SEBI Merchant Banking
Investors, clients, beneficiaries and stakeholders are hereby made aware that, ICICI Securities Limited , may also undertake certain fee-based, non-fund-based activities pertaining to the financial services sector, which may not be regulated by SEBI or any other financial sector regulator. Such activities may include activities like:
Mergers and acquisitions, private placements and related advisory services involving only unlisted companies.
Structured debt financing related advisory services
It may be noted that the SEBI investor protection mechanism will not be available for any grievance or disputes arising out of, or pertaining to, non-SEBI regulated activities. This disclosure is made in terms of Clause 11.2.6 of the SEBI Circular no. HO/49/11/11(106)2025-CFD-RAC-DIL3/I/1796/2026 dated January 2, 2026 on “Specification of the consequential requirements with respect to Amendment of Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992.
Valid UPI Handles
The use of validated UPI IDs for investor fund transfers has been made effective from September 06, 2026, in accordance with SEBI and exchange Circular No. SEBI/HO/DEPA-II/DEPA-II_SRG/P/CIR/2025/86 dated 11th Jun, 2025
Here are a few FAQs on Valid UPI Handles:
Q. How does SEBI’s “SEBI Check” tool help verify UPI IDs?
A. SEBI has developed a tool called SEBI Check that allows investors to:
Verify UPI IDs by entering them manually or scanning a QR code.
Confirm linked bank account details such as account number and IFSC.
This adds an extra layer of security for investors.
Self-Certified Syndicate Banks (SCSBs) issue the validated UPI IDs after verification
Q. Are there transaction limits for UPI in the capital market?
A. Yes. Currently, the NPCI allows up to ₹5 lakhs per day for capital market transactions via UPI. Banks and apps may impose their own limits within this cap.
Q. How can investors ensure they don’t fall for fake UPI IDs?
A. Investors should:
Never transfer money to a UPI ID that looks similar but does not carry @valid.
Avoid payments if the confirmation screen does not show the green triangle thumbs-up.
Verify details through “SEBI Check” (once launched) if unsure.
Q. By when will old UPI IDs be phased out?
A. As per SEBI’s timeline:
Validated UPI IDs must be available to investors by October 1, 2025.
Old IDs must be discontinued within 180 days from circular issuance (with the SIP exception noted above).
Q. Why are new @valid UPI IDs being introduced by SEBI?
A. SEBI has mandated standardised, validated, and exclusive UPI IDs for all registered intermediaries to protect investors from fraud.
In recent time, many scams involved fake UPI IDs using popular brand names which have misled investors into transferring funds to unregistered entities.
These new IDs ensure your payment always goes to the right, SEBI-verified account.
Q. Do I (as an investor) have to use these validated UPI IDs?
A. If you are making payment to SEBI Registered Intermediary via UPI, yes — you must make payment to the new validated UPI IDs only.
However, you can still choose other payment methods like NEFT, RTGS, IMPS, or cheques.
Q. How do I know if a UPI ID is valid?
A. Check for these three markers:
A suffix showing the category (e.g. brk for brokers, mf for mutual funds).
The @valid handle should be present, followed by bank name.
A white thumbs-up icon inside a green triangle on your UPI app.
Q. What should I do if a payment fails with the validated UPI ID?
A. These IDs use the same banking channels as before. If a payment fails, simply contact your bank for resolution.
Q. Can an intermediary (broker) have more than one validated UPI ID?
A. Yes. An intermediary may generate separate validated UPI IDs for different business accounts, but all will follow the same “@valid” framework.
Q. Do I always have to scan a QR code to transfer funds via UPI?
A. No. You can either enter the validated UPI ID manually or scan the QR. Both will show the green triangle thumbs-up icon for confirmation.
Q. How can I add funds to my ICICI Direct trading account via UPI?
A. Clients can add funds to their trading account from their bank account via UPI by submitting a request only through the website or mobile application.
This feature is available to clients currently using the Deposit Fund Model account type which have fund-adding functionality. Other account holders, whose bank accounts are already linked to their trading and demat accounts, can make payments directly from those linked bank accounts.
Please note that eligible customers can only add funds to their trading account by raising request from their logged-in section.
