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ASBA

ASBA

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ASBA : Applications Supported by Blocked Amount (ASBA) means an application for subscription to an issue containing an authorization to block the application money in a Bank account. It is an additional mode of payment for investment in shares. Without moving the funds out of your account, the amount will now be simply blocked. This means as long as the IPO shares are not allotted, the funds stay in your account and you will also not lose interest in your savings bank account. The amount equivalent to allotted shares will be debited from your account and the balance, if any, will be unblocked in your account.

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