Tuesday April 07,2020

News FY 2073-74

Nabil Bank Granted ASBA Membership

We are pleased to announce that Nabil Bank has been granted Application Supported by Blocked Account (ASBA) membership by SEBON. 

ASBA is an application process for blocking savings/current account deposits of bank customers when they subscribe for shares under IPOs/FPOs. The applicant’s account is debited only on allotment of shares and thus, the balance in the account continues to earn interest on interest bearing accounts. This will also benefit the Bank’s customers as it eliminates the hassle of collecting cheques from the issue manager after share allotment and also does not penalize delay in refund of balance amount after allotment.

Mr. Sashin Joshi, Chief Executive Officer of the bank said, “We are happy to provide an additional service to our customers. With this membership, Nabil Bank customers can have a one-stop service for hassle free share applications and save a lot of time and money”.