Kathmandu, Feb. 7:
Nepal SBI Bank Limited (NSBL) has launched online ASBA (Application Supported
by Blocked Amount) and online D-mat services.
Chairman of the
Securities Board of Nepal (SEBON) Dr. Rewat Bahadur Karki inaugurated the
digital services amidst a programme in the capital the other day.
According to the bank,
the two products were launched as part of its business strategy to continue its
pursuit of bringing modern technology-based banking and capital market products
to its customers.
"NSBL
Online ASBA is a utility developed by Nepal SBI Bank Ltd. to facilitate its
customers to submit their securities subscription application online. Any
customer registered with NSBL Online ASBA can submit his/her application for
subscribing to FPO, IPO, Rights Issue of any company without being physically
present at NSBL branches," said Anukool Bhatnagar, managing director and
chief executive officer.
He
claimed that NSBL was the first bank in Nepal to introduce ASBA utility online.
"Online
ASBA is a seamless and hassle-free process equipped with a speedy, secured,
transparent and reliable system. It has added features of generating and
delivering alerts to the customers as and when an account is lien
marked/blocked," said Bhatnagar.
ASBA
is a system through which an investor can submit his securities subscription
application to the issue manager through a bank where he maintains his bank
account.
Under
this system, the designated bank account of the customer is lien marked
(blocked) by the bank to the extent of the subscription amount ,and his
subscription application duly supported by the blocked amount is forwarded to
the concerned issue manager.
The
lien marked or blocked amount will be released when the underlying securities
are allotted.
Likewise,
NSBL Online D-mat, which is an outcome of NSBL's collaborative effort with its
Wholly Owned Subsidiary (WOS) Nepal, SBI Merchant Banking Ltd. (NSMBL), will
facilitate D-mat account-holders to have online access to their D-mat account.
"The
bank is planning to make its Online ASBA and D-mat Services available through
Mobile Aps in the near future," said Bhatnagar.
Dr.
Karki appreciated the bank for being the first bank to introduce ASBA online
system.
He
said that SEBON was working to enhance the scope of merchant banking.
NSBL
is providing banking services from its 73 offices, including 62 branches, 7 extension
counters, along with 3 regional offices and a corporate office and 93 ATMs
across the country, including 2 mobile ATMS and 2 cash deposit machine (CDMs).
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