ASBA service at Rs25

- Post Report, Kathmandu

Apr 27, 2017-

Citizens Bank International has reduced the fee on Application Supported by Blocked Amount (ASBA) service, which allows investors to subscribe to shares floated in the primary market by giving certain instruction to banks, to Rs25. The bank is offering this service from 58 branch offices located all over the country, says a statement issued by the bank. The ASBA platform basically blocks the money parked in bank accounts of investors who wish to purchase shares issued through the initial public offering. The fund is blocked till the time the stocks are allotted. In other words, the money is debited to the accounts of investors upon allotment of shares. (PR)

Published: 27-04-2017 08:13

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