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ASBA (Application supported By Blocked amount)
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ASBA (Application supported By Blocked amount)

Application supported by Blocked Amounts(ASBA)
We are glad to inform you that Bank will be introducing ASBA facility shortly for its customers.
What is ASBA:
ASBA is an application containing an authorization by the investor to block the application money in his bank account , for subscribing to a public issue .Under ASBA, application money shall be debited to the bank account only if application is selected for allotment after the basis of allotment is finalized.In case of rights issue the money shall be debited to the account after the receipt of instructions from the registrar.
You can apply through ASBA if you are a
  • Resident .Retail ,individual investor applying for share securities.Max 5 applications can be made form a single account per issue .
  • Is applying through blocking of funds in a Bank account with SCSB(Self Certified Syndicate Bank).SCSB is a bank which is recognized as a Bank capable of providing ASBA services to investors .The list of such Banks is available in the website of NSE, BSE, and SEBI.
Advantage in applying through ASBA
  • The investor is not required to pay the application money by cheque in advance. Instead , the investor submits ASBA which accompanies an authorization to block the Bank account to the extent of the application money .
  • In ASBA only that much money which is required for allotment of securities is taken from the Bank Account only when the application is selected for allotment after the basis of allotment is finalized.
  • The investor continues to earn interest on the application money as the same remains in the account .
  • The entire bank account will not be blocked .Only the amount to the extent of application money authorized in the ASBA will be blocked in the bank account .The balance money, if any can still be used for other purpose.
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Saraswat-Bank
Saraswat-Bank