Till date, as a customer of ICICIBank, I was used to boast for my enjoying all the new features and facilities with ICICIBank infront of my friends and collleagues.
But, the time is changed now. It seem, the race is being won by all Tortoises. And all those betting on Hare are only to loose for forgetting the old-age wisdoom. Being specific, I regret to learn only 7 branches of The ICICI Bank- The larget of all Private banks **is offering ASBA facility for IPO applications.
Contrararily, **Kotak Mahindra Bank is one to introduced ASBA across india through netbanking and phone banking. HDFC is providing the same through almost 27 branches. Many nationalized banks have longer list of branches covering many ciites other than metro.
*Why the customers of cities other then those Seven places are not offered such advantageoue facilty by ICICIBank, inspite of the fact that they all pay the same Service charges and fulfilling the same QAB requirements as a customer.
Note: ASBA is Application supported by Block Amount - for IPO of Equity shares in which your money remains’Blocked’ in your own account earns intrest till you actually get allotement against which the eaxct payable amount is withdrwan. more info availbale at SEBI’s website https://sebi.gov.in
If you are intrested to know whether your bank is offering ASBA facility in your city or branch near you, visit https://sebi.gov.in/pmd/scsb.pdf.
Lucky if you are not an ICICIBank customer of non-metro cities, enjoy the new feature thanks to SEBI and your bank!
PS: The ASBA as availbale to Banks’subsidery’ ICICIDirect.com customers has nothing to offer as a benifit to cutomer except’no waiting for refund’ on alllotement. For bank, its cheap money of you enjoyed for 15 days!