MUMBAI, JAN 3:
Market regulator Securities and Exchange Board of India (SEBI) today asked the banks providing ASBA (Application Supported by Blocked Amount) facility for public offers to use their accounts in other registered banks while making their own applications.
The ASBA facility allows the application money to remain blocked in the applicant’s bank account till the time the shares are actually allotted in the public offers and the banks seeking to provide these facilities need to first get registered with SEBI.
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