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4 Comments

4. Johny   I Like It. |Report Abuse|  Link|Mar 13, 2019 11:09:41 AMReply
Thank you @Admin
3. Johny   I Like It. |Report Abuse|  Link|Mar 12, 2019 8:53:47 PMReply
@Admin
1) How are profits distributed - interest, dividend?
2) How is capital gain\loss on sale of this units treated?
3.1. Team Chittorgarh.com   I Like It. 1|Report Abuse|  Link|Mar 12, 2019 8:58:53 PM
1. Profits are distributed through dividends.

2. Capital gain/loss are pretty similar to stocks. But as its just the beginning, the rapid changes are expected in regulations regarding this.
2. Johny   I Like It. |Report Abuse|  Link|Jan 29, 2019 1:14:07 AMReply
Dear Admin will netbanking based online ASBA be stopped after Phase 2?
2.3. Team Chittorgarh.com   I Like It. |Report Abuse|  Link|Jan 29, 2019 12:11:22 PM
The IPO applications will remain 100% online even after UPI. The while idea is UPI is to reduce the listing time.

1. The banks will change their software to support UPI as payment method. The banks like SBI or Kotak will not be able to offer upto 5 IPO applications per bank account.

2. Now any broker (including discount stock brokers like Zerodha) can build their own online IPO application.Soon every broker in India will offer online IPO using UPI api. They will simply request UPI to block the amount and send the confirmation detail to exchange (BSE, NSE) along with IPO application.

Hope this clarifies your doubts.

We have also added few more FAQ's on top.
2.4. Puneet Agnihotri   I Like It. |Report Abuse|  Link|Feb 20, 2019 4:06:12 PM
Very nice article. Understood the entire bidding process through UPI at a glimpse.

However, in my view the online bidding channel i.e. Bidding through net banking based online ASBA will not be stopped in any phase and will be available for bidding. As pursuant to the SEBI circular SEBI/HO/CFD/DIL2/CIR/P/2018/138, channel bidding wherein Bidding of bid cum application form is being done by any Intermediary and then the forms are being forwarded to SCSBs for blocking of fund are to be stopped from phase II onward.
1. Johny   I Like It. |Report Abuse|  Link|Aug 7, 2018 3:57:40 PMReply
@Admin - can a Minor who is US citizen but residing with Parents in India and holding a OCI card open a Demat, Trading and Bank Account?
1.2. Johny   I Like It. |Report Abuse|  Link|Aug 7, 2018 8:09:53 PM
@Admin

Thank you very much for the response. Can you suggest which broker can help me with this. I already have bank account and pan card. Prostocks said they don't open in this scenario.
1.3. Administrator   I Like It. |Report Abuse|  Link|Aug 8, 2018 11:37:51 AM
We know Prostocks.com is offering this service to many customers. Pls check with them for your situation.