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Equitas SFB launches ASBA facility

Written by Abhinav Garg

Clients can now participate directly in primary markets through the ASBA facility and benefit from high interest on savings accounts until the share grant date.Clients can now participate directly in primary markets through the ASBA facility and benefit from high interest on savings accounts until the share grant date.

Equitas Small Finance Bank (Equitas SFB) on Wednesday announced the launch of the ASBA facility on its online banking, mobile banking and UPI interface for its customers. ASBA – Applications Supported By Blocked Amount – is a process required by Securities Regulator Sebi to apply for IPOs and FPOs.

Clients can now participate directly in primary markets through the ASBA facility and benefit from high interest on savings accounts until the share grant date. The facility is available for free and does not need to present any physical documents to be activated, the bank said in a statement.

In association with Aditya Birla Money, the bank offers the possibility of an instant cum demat trading account which can be digitally activated in a matter of minutes.

Murali Vaidyanathan, Senior President and Country Manager, Bank Branch, Equitas Small Finance Bank, said: “This move will also significantly help retail investors and HNI. With contactless banking becoming the need of the hour and omnichannel delivery essential for future readiness, our continued investments in building world-class digital assets have become a key differentiator.

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Abhinav Garg

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