What is ASBA facility?

Application Supported by Blocked Amount (ASBA) is an application made by an investor for the subscription of an Initial Public Offer (IPO) and Follow-on Public Offer (FPO). The form contains an authorization to Self-Certified Syndicate Bank (SCSB) to block funds available in the applicant’s Savings Bank Account or Current Account (other than Overdraft or loan … Continue reading What is ASBA facility?