UPI-based system mulled for retail investors in IPOs The securities and Exchange Board of India (Sebi) is considering introducing a UPI-based payment system for retail investors in initial public offerings (IPOs), a move that will help do away with cheque payments and reduce the time taken between the closing of an IPO and listing of the security to just three days. Sources in the know said Sebi and National Payments Corporation of India (NPCI), which manages the UPI (unified payments interface) protocol, were studying the feasibility of the proposal. Initial feedback received by the market regulator from stakeholders was that the project could be executed with a few tweaks to teh current payment framework, said a source The UPI system developed to promote digital payments in the country . enables instant and seamless payments frome one bank account to another through a mobile-based application. The platform is rapidly gaining acceptance, with over 70 banks being empanelled. A