Sanima Bank associated with ASBA system, Charges will be Rs 100 per application

Sanima Bank Limited has got approval from Securities Board of Nepal (SEBON) for Application Supported by Blocked Amount (ASBA) system. In a notice published today, it stated that the bank will hold amount of applicants in their respective account while applying for public issues and the allotted amount will be debited once the final allotment of public issue is over. The bank will charge Rs 100 per application. The system will be in practice from Magh 1, 2073. With Sanima Bank associated, there are now 17 banks and financial institutions already that have got permission from SEBON for providing services under the ASBA system. However, ASBA system won’t be applicable in the upcoming NLIC FPO issue.