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The ASBA product simplifies the public issue process. It allows the end users to apply for IPOs, rights issues, FPOs etc. In ASBA, the designated bank account is blocked for the application money amount. On the date of allotment the account is actually debited to the extent of allotted shares and the remaining amount is released. The KCS ASBA product is targeted at the Self Certified Syndicate Banks (SCSB). The advantages of the ASBA process are:
Yes, ASBA provides for online as well as btach mode Hold Marking and Hold Release of Funds from the CBS.