Who are Self Certified Syndicate Banks (SCSBs) and how do I know if Axis Bank has the facility to apply in an IPO using ASBA payment method?
Banks, which are certified by SEBI, allow retail individual investor to apply in IPO’s using ASBA payment method, are known as ?Self Certified Syndicate Banks (SCSBs). SCSB’s has capability to block the IPO Application amount until IPO allotments are done. SCSB guarantee the Issuer Company for the blocked money and make sure that it’s not being used for any other purpose. Axis Bank is one of the SCSB registered with SEBI for providing this service to its customers. All branches of the bank, at present, may not be activated for IPOSmart, however, this facility can be availed by any branch account holder, by vising any of the designated branch of the bank. To view the list of these designated branches, please click here.
Related Questions
- Who are Self Certified Syndicate Banks (SCSBs) and how do I know if Axis Bank has the facility to apply in an IPO using ASBA payment method?
- Who are Self Certified Syndicate Banks (SCSBs) and how do I know if my bank has the facility to apply in an IPO using ASBA payment method?
- What is Self certified Syndicate Bank (SCSB)?
