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Wednesday, 29-Mar-2017
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Application Supported by Blocked Amount (ASBA)

CUB is happy to offer ASBA facility to its customers. ASBA is a facility to apply IPO without parting funds from your account so that you can earn interest in your account till allotment of the issue applied for.

To apply for  Initial Public Offers (IPOs) of joint stock companies , investors  submit their application along with the payment by way of cheque/draft .  Now SEBI has introduced a   new procedure by which investors  can apply in a special form called  “ ASBA ” i.e., Application Supported by Blocked Amount. The banks approved by SEBI will receive these special application forms from the investors and hold the funds they intend to invest from their operative accounts till the investor is allotted/refunded the amount. If the shares are  allotted the banks will transfer the funds to the joint stock company which has floated the IPO and the customer receives the share certificate in DEMAT form  directly from the company. If it is refunded, Banks will unhold the funds  and make it available to the customers for further operations. All kinds of investors like individuals, HUFs, eligible institutions can apply to IPO through ASBA and they should have a DEMAT account .

Your Bank has  got the approval from SEBI/NSE to accept ASBA forms from our customers. The customers desirous of applying through ASBA will have to present the ASBA applications to the following identified branches.

1. Chennai- T.Nagar 8 Coimbatore-Ram Nagar 15. Ahemdabad
2. Chennai-Mount Road 9. Trichy-Main 16. Surat
3. Chennai-Mandaveli 10. Bangalore- Sultanpet 17. Nagpur
4. Chennai-George Town 11. Hyderabad 18. Delhi-Karol Bagh
5. Madurai- Main 12. Mysore 19. Kolkatta -Main
6. Salem – Main 13. Pune 20. Vijayawada
7. Erode 14 Mumbai- Fort    
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1. Now Pay Smart through Scan & Pay option to other CUB eWallet and Accept Payments from other CUB eWallet using QR Code option.

2. You can safeguard your Debit/ATM card transactions using Enable or Disable ATM/PoS/Ecom option in your Internet/Mobile Banking.

3. Using Netbanking you can book your Rail ticket through IRCTC for Free of Charges.

4. RuPay Debit Card Offers 

5. Visa Debit Card Offers 

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