LIC IPO: Investors should not face any kind of problem, so banks will remain open today

Banks will remain open today.

LIC IPO Updates: LIC IPO was open for subscription on 4th May and its subscription will be closed on 9th May. Government banks like SBI will remain open today so that investors do not face any kind of problem.

LIC IPO ,LIC IPOEvery effort is being made towards the government to make f mega successful. This is the reason why banks should be opened even on Sundays.Banks will be open today) went. On Wednesday, the Reserve Bank of India asked all the bank branches designated ASBA (Application Supported by Blocked Amount) to keep the branch open for this IPO keeping in mind the convenience of the customers. State Bank had confirmed on Friday itself that all its branches will remain open on 8th. However, today’s service will be available only for LIC IPO related works.

However, this decision of the Reserve Bank has also been opposed by the bank union. All India Bank Officers Confederation (AIBOC) said that the retail segment, staff quota and policy holders quota have already been oversubscribed for this IPO. In such a situation, what is the meaning of opening a bank on Sunday? This IPO will run till May 9 and investors have a chance to invest on Monday as well.

Total 60 branches come under ASBA

According to the SEBI circular, ASBA is a kind of application under which when an investor makes a bid, the amount is blocked. With the help of ASBA, when an investor invests in an IPO, the bid amount is deducted from the account only when his bid is accepted. According to the information available on the SEBI website, there are currently 60 such bank branches in the country that offer ASBA facility. All these branches will remain open. All these branches belong to different banks.

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