What is ASBA in IPO application?

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ASBA is a payment method that allows banks to block funds paid for the purchase of IPO shares. These funds are only blocked and not deducted from the account. Thus, these funds continue to earn interest until they are deducted at the time of allotment.

The ASBA facility has simplified IPO trading at zero cost. The ASBA has eliminated the need for demand drafts and cheques for payments.

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