If You are customer of Kotak Bank and regular investor in IPO then you must really appreciate your Bank for introducing ASBA facility as flexible as it can be - maximising your gain out of this noble initiative of SEBI for retail Investors like us.
Note: For those friends who are yet to understand ASBA, pl refer my review on ICICIBank-Know your Bank! and visit sebi’s website for more details.
In fact, I was somehow reluctant to actively use my SB bank account with Kotak Mahindra Bank. But recently, ASBA facility introduced by KMBL made me to give a fresh look at the Bank and more due to fact that my ’preferred bank!’ ICICIBank didn’t serve the purpose. (See my review on ICICIBank https://mouthshut.com/review/ICICI_Bank-172689-1.html )
I was pleased to learn the way KMBL has introduced the facility, maximizing the ways a customer can derived the benefits of the feature.What is worth noting about is they accept application throughnet/ phone/ branch banking is Excellent.Kotak Mahindra Bank truly deserve best of compliments from retail investor community for their transparent dealings And For Making Money ’Really Simple’ (as they say)!!
But Why there are many banks (ICICI is one big) shy away to communicate to their customers about ASBA or don’t want to do so. Their interest or intentions can be anybody’s guess!
Now it is up to us, the retail investors to understand, get registered and start getting benefited before ’the vested interest’ acting against us get success in labelling the scheme of ASBA as ’flop’.
## An update: Mar2010:Lately, now all joint holder can use ASBA facility for only their respective demate acc -may it be with even other than kotak bank. Myself is enjoying the facility by just making a phone call to cust-care to make ASBA-IPO applications against my TD amount for my ICICIBank-demat acc + one more application in the name of my joint holder for her demat with kotak securities.