SCSB is a bank which offers the facility of applying through the ASBA process. A bank desirous of offering ASBA facility is required to submit an application to SEBI, for inclusion of its name in SEBI’s list of SCSBs. ASBAs can be accepted only by SCSBs, whose names appear in the list of SCSBs displayed in SEBI’s website. On inclusion in the list of SCSBs, a bank may commence its activities as an SCSB with effect from the 1st or 15th of a month, whichever is earlier, from the date of such inclusion. Such a SCSB is then deemed to have entered into an agreement with the issuer and is required to offer the ASBA facility to all its account holders for all issues to which ASBA process is applicable.
You may also like
The final prospectus filed by the company with the Registrar of Companies (ROC) before launching the IPO. It contains all the information […]
IPO or Initial Public Offering is the process by which a company raises capital by issuing shares to investors with the intention […]
Portfolio Management Services (PMS), a service offered by the Portfolio Manager, is an investment portfolio in stocks, fixed income, debt, cash, structured […]
A coupon in the financial world is defined as the periodic interest rate paid on a fixed income instrument that is expressed as a percentage of […]