Examples of Blocked Amount in a sentence
For details please refer to the Section “Applications Supported by Blocked Amount (ASBA) facility”.
Applications Supported by Blocked Amount or ASBA facility: An application containing an authorization given by the Investor to block the application money in his/her specified bank account towards the subscription of Units offered during the NFO(New Fund Offer) of a Scheme.
In respect of New Fund Offer (NFO) of Schemes/Plan(s) an investor can subscribe to the NFO through Applications Supported by Blocked Amount (ASBA ) facility by applying for the Units offered under the Option(s)/Plan(s) of the Scheme(s) in the ASBA Application Form and following the procedure as prescribed in the form.
The Application Forms for applications under the Applications Supported by Blocked Amount (ASBA) facility should be submitted at the designated branches of the ASBA Banks.
In respect of New Fund Offer (NFO) of Schemes / Plan(s) launched on or after October 1, 2010, investor can subscribe to the NFO through Applications Supported by Blocked Amount (ASBA) facility by applying for the Units offered under the Option(s) / Plan(s) of the Scheme(s) in the ASBA Application Form and following the procedure as prescribed in the form.