Sebi Proposes Secure SIM-Binding for Trading Authentication

The Securities and Exchange Board of India (Sebi) has proposed a robust authentication mechanism using SIM binding for secure trading. This initiative echoes the security found in UPI transactions and aims at preventing unauthorized trades. Public comments on these proposals are invited until March 11.

The Securities and Exchange Board of India (Sebi) is moving towards bolstering trading security by advocating for a SIM binding mechanism in alignment with UPI payment protocols.

New propositions include using UCC, SIM, and device recognition for account access, coupled with biometric checks, ensuring only authenticated users execute trades.

Stakeholders can provide feedback on this framework, set to be made compulsory after a phased approach, until March 11.

(With inputs from agencies.)