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ASBA for secondary markets will be another blow for fintech, brokers

An ASBA-like mechanism for the secondary markets will enable traders to enjoy interest on the funds not used

September 23, 2022 / 08:18 AM IST
ASBA for secondary markets will be another blow for fintech, brokers

Representative Image: Reuters

Highlights SEBI is considering payment infrastructure for the secondary market on the lines of IPOs A structure on the lines of Application Supported by Blocked Amount (ASBA) is planned for the secondary market ASBA authorizes the bank to debit money only if the applicant is selected for allotment Fintechs and brokers presently enjoy the float of their clients who keep money with them awaiting opportunities SEBI’s decision would benefit clients as they can enjoy interest payment till a transaction is completed Brokers and fintechs would lose the...

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