KATHMANDU: NMB Bank will now be providing free ASBA service to its customers. This newly introduced system by SEBON ensures that the applicant’s money remains in his/her bank account till the shares are allotted.

The mechanism requires the applicant to give an authorisation to block his/her application money in the bank account for subscribing to the initial public offering His/her bank account is debited only after the basis of allotment is finalised, or IPO is withdrawn or fails.

“This free ASBA service forms part of bank’s ongoing efforts to enhance customer experience with the bank,” said a statement issued by the bank.