It co-exists with the existing process, wherein cheque is used as a mode of payment. It is available in all public issues made through the Book Building route as well as Rights Issues.It also eliminates delay in receipt of refund of oversubscription amounts. The ultimate aim is to reduce the time period between the Issue closure date and listing of shares. Applications Supported by Blocked Amount (ASBA) is an additional Payment Mode introduced by India's capital market regulator SEBI, with a view to make the existing public issue process more efficient.The bank account number and sign in the application form to authorise yourīank to make payment in case of allotment. On allotment/partial allotment, the amount is unblocked and amount is transferred to the issuer to the extent of allotment amount and the account holder could utilise the unblocked funds for further issues/other purposes.No need to issue cheques by investors while subscribing to IPO. Instead of the earlier waiting period of getting the refund cheque in case of non allotment/partial allotment, there is no waiting period under ASBA process. For SB account holders the application money/bid amount is not parted and is only blocked in the account till allotment is finalised and will be earning interest during the intervening period.When the Issue is open the investor has the option to vary the bid price.In the case of the investor not getting any allotment, the hold is removed on the entire application money.On allotment, the bank gets the details from the Registrar to the Issue and based on which the amount equivalent to the number of shares allotted multiplied by the price is transferred to the Issuer’s account and the hold is lifted for the balance amount.The application will be uploaded to the BSE / NSE system towards building the Book.The Bank will create a hold in the investor’s account with the Bank equivalent to the application money (highest of the bid amount).The investor has to make an application in the specified form with all columns filled in.ASBA facility is available only to our customers who are maintaining a SB account (other than Smart Kids) / Current account with our Bank.ASBA facility can be utilised presently by all categories of investors including Qualified Institutional Buyers for applying to IPOs coming through the Book Building route and Rights Issues.All other branches are designated branches. NANDANAM branch will be the NODAL branch for reporting requirements.The facility is now available at all the branches of our bank.The ASBA Phase II service is made operational in the Bank with effect from May 3, 2010.Our Bank had been admitted as a SCSB for ASBA Phase II by SEBI and is eligible to act as a SCSB for all issues.It shall co exist with the current process wherein cheques is used as a mode of payment of application money. Securities and Exchange Board of India (SEBI) had introduced a supplementary process of applying in Public issues viz Applications Supported by Blocked Amount (ASBA) process which could be offered only by a Self Certified Syndicate Bank (SCSB).Helpline for Women in Distress – 7827170170.RBI Monetory Museum Bank Notes and Security Features.Small Farmers’ Agri-Business Consortium.Deposit Insurance & Credit Guarantee Corp.Indbank Merchant Banking – Online Share trading. #Syn bank netbanking code
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