eASBA Apply through your Banks internet banking module

           

eASBA - the facility of applying for Stock Market Issues through Bank’s internet banking module, is fast picking up.

eASBA is for Online Subscription of IPO/FPO by blocking one’s CASA account.

It’s a Safe, Secure and Convenient way

            The main advantage of eASBA over the physical ASBA is that the Bank customers can enjoy the benefits of ASBA without visiting any bank branch, to submit the physical application.

            The main advantage of eASBA for SCS Banks is that a part of Broker compensation can flow back to the bank, as payback charges.

ASBA eforms can be downloaded from the NSE site. However, in case of eASBA, the application form is already part of the internet banking module, and the bank customers have to click on the ‘I agree to the terms and conditions’, to proceed further.

The e-ASBA facility is user-friendly, simple, instant, secure and available 24x7. Normally, it is a self-service facility eligible for all net banking customers having transaction rights.

Majority of the banks allow applying online up to 4.00 PM on the issue closure day.

                        The main disadvantage of eASBA is that Rights Issues cannot be applied, as physical application issued by the company containing CAF number must be submitted to Bank.

            I am sure in the near future, a way will be found out, to apply for Rights Issues through eASBA.