SEBI approves ASBA-like facility for investors to trade in secondary market: SEBI has approved a framework for an Application Supported by a Blocked Amount (ASBA) like facility for secondary market trading. It is based on the blocking of funds for trading in the secondary market through UPI.
March 2023 Current Affairs Quiz
Sebi said the facility is based on blocking of funds for trading in the secondary market through UPI (unified payments interface) and will be optional for investors as well as stock brokers.
ASBA:
It is an IPO application process under which the application money by an investor is blocked in that investor’s bank account. And once the IPO application is approved, the application money is debited from the investor’s account.
