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Epayments supported forex broker


epayments supported forex broker

handling IPOs said implementing the new system will not be easy. The sponsor bank will initiate the request with the investor to authorise blocking of fund in case of allotment. Sebi plans to come out with a discussion paper on this soon. The other one is broker asba, where the broker does the bidding and hands over the application form to the investors bank.



epayments supported forex broker

Investment bankers handling IPOs said implementing the new system will not be easy. Mumbai: The Securities and Exchange Board of India is planning to introduce an alternative payment mechanism in initial public offers for retail investors as it aims to speed up the listing process.

Mumbai: The Securities and, exchange, board of India is planning to introduce an alternative payment mechanism in initial public offers for retail investors as it aims to speed up the listing process. Since there is a physical movement of the application form from the broker to the investors bank, the process takes a day or two to complete, said a person close to the development. Currently, 70 of retail application comes through broker asba. Once the investor accepts the request on his mobile entering the UPI PIN, his bank will block the funds. Then, the forms would be submitted to the broker, who in turn will upload the bid details along with the UPI ID on the stock exchange platform. This alternative payment system will be crucial for Sebi to move to reducing the time taken for listing from the date of the IPO closure to three days from the current six. The regulator feels the segregation and physical delivery of IPO application forms by the broker to the branches of 60 banks, which offer the asba facility to investors, is time-consuming and prone to error as most of the applications come on the last day. Investors would need to fill in the bid details in the form as per current practice and also enter the exclusive 16 digit UPI. IPO applicants account does not get debited till the shares are allotted.

Epayments supported forex broker
epayments supported forex broker


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