Brokers target March-end timeline for offering UPI block facility

On January 1, a beta version will launch for the new block facility

Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024.

Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.

The facility is to be made available only for the equity cash segment in the beginning.

“On January 1, it is going to be a ‘beta version launch’ for the new