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What is ASBA?
Application Supported by Blocked Amount (ASBA) is an IPO application process developed by SEBI. It is an application that authorizes the bank to block the application money in your bank account for subscribing to an IPO issue. The blocked amount cannot be used for any other purpose.
This facility is used when applying for IPOs through internet banking. With Finvasia, you can apply for IPOs through the Shoonya platform using UPI only.
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