I have a question regarding the kind of bank account used for IPO applications. To apply for an IPO, usually, I receive a mandate request on my GPAY with is linked to my HDFC current account. Which has been working fine. I receive the mandate, and the bank blocks the funds until the allotment date. However, I have not received any allotments yet. I have read online that SEBI only processes IPO applications linked to a Savings account and not current ones. Is this true? and will I have to close my HDFC current account and open a Savings account?