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All you need to know about the new UPI-based IPO application process

Updated : July 30, 2019 02:23 PM IST

The introduction of the UPI facility is eventually expected to quicken the entire IPO process. Affle India’s IPO, which opened on Monday, will be the first instance of application through the medium. The UPI system allows the instant transfer of funds between two banks.
Till recently, you could invest in an IPO using the ASBA (application supported by blocked amount) facility offered by SCSBs (Self-certified syndicate banks).
UPI-based IPO application is made mandatory for retail investors who have accounts with banks whose names appear on SEBI’s website.
All you need to know about the new UPI-based IPO application process
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