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    Question

    ASBA is an application containing an authorization to

    Self-Certified Syndicate Bank. What does B stand for in ASBA?
    A Banking Correct Answer Incorrect Answer
    B Below Correct Answer Incorrect Answer
    C Barred Correct Answer Incorrect Answer
    D Blocked Correct Answer Incorrect Answer
    E Backed Correct Answer Incorrect Answer

    Solution

    Application Supported by Blocked Amount (ASBA) is an application made by an investor, containing an authorization to Self-Certified Syndicate Bank (SCSB) to block funds available in applicant’s Savings Bank Account or Current Account (other than Overdraft or loan accounts), for subscribing to an Issue, to the extent of application money, till finalisation of allotment in the issue or till withdrawal/ failure of issue, or till withdrawal/ rejection of application, as the case may be.

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