C-ASBA

A Web Based Centralized Application developed by CDSC that complies with ASBA guideline which aims to provide the online facility for different stake holders of complete Issuance process. It is Centralized Web application that will automate IPO issuance process providing the access to all the participants of the market. It provides a platform for banks and issue manager to process and verifies the details of IPO/FPO applicant along with their mentioned BOID It Provides a platform for investors to apply for IPO/FPO/Rights through the internet under ASBA guideline. It facilitates to integrate the DEMAT Account of Investor with their Bank Account so that the payment system of the share transaction can be automated in future.

 

Purpose of the Service

  • Verifies Bank Account Information of the Investors with DEMAT Account Information
  • Takes a standing instruction from the client which states that " The client agrees that the bank can debit/freeze the amount from/in his BANK Account if the instruction is initiated for the mentioned BOID (Which is verified by BANK).
  • Blocks the Funds in the Investors Bank Account according to the information received from the System
  • Debits the Funds as per the information received from the System.
  • Releases the blocked amount as per the information received from the system

Applying for IPO using online application

  • Investor will get Mero Share login from his/her own DP.
  • Investor will submit CRF to his bank and receive CRN.Investor will get an application portal (MY ASBA) activated in his Mero Share application once the bank registers the client to C-ASBA and provides the CRN.
  • Investor will apply for the IPO through ASBA portal using his CRN.
  • Bank will get the application report to his C-ASBA application.
  • Bank will download the freeze instruction file for all the received application and upload to their CBS system.
  • Bank will generate and upload Confirmation Report to the system.
  • Issue Manager will generate the report and process for the allotment.

Benefits:

  • IPO/Right Share can be applied from own Bank account
  • An investor need not pay the application money by cheque.
  • The investor does not have to worry about refunds.
  • The investor continues to earn interest on the application money as the same remains in the bank account.
  • The application form is simpler.

 

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Fd Rates
Fixed Deposits

9.00%

Less Than 2 Cr

Individual Deposit (2 Yrs < 30 Mth)

9.00%

Less Than 2 Cr

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