What is the difference between Banker to an issue and self certified syndicate bank ?
SCSB ( self certified syndicate bank )is a bank which offers the facility of applying through the ASBA process. ASBA is an application for subscribing to an issue, containing an authorization to block the application money in a bank account.
Banker to an issue. A scheduled bank carrying on all or any of the issue related activities namely acceptance of application and application monies; acceptance of allotment or call monies; refund of application monies; and payment of dividend or interest warrants.
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