Nepali babu 10 months ago

What is ASBA ? How does it work?

What is asba system and how to buy and sell shares using it? Who can use it?

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ASBA, or ‘Application Supported by Blocked Amount’, does not require investors to furnish demand drafts or cheques that were earlier needed when applying for IPO shares. Under this option, investors can apply through banks, which will hold a lien on investor deposits – that is, the money stays in the bank account until the issues are allotted.
There are two benefits to this process. First, the usual problems associated with refunds are avoided. Second, the ASBA funds continue to earn interest even during the application process, if they are held in interest-bearing accounts.

 
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