Upi mandate issues

I have process for SBI Cards IPO at 04.03.2020 in Kite site, we have received 2 times of UPI process. in this two process one is takes place Failure and second one is showing Successful in UPI, till evening in Kite site showing status approved by investor bank but yesterday night in my bank a/c showing two times amount blocked and Kite site showing SBI Card IPO status showing REJECTED BY INVESTOR BANK.
So, Please guide us what happened and what to do?

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Console displays the last received status from the exchange. If your block status is not updated at the UPI app level or exchange level, the RTA may still consider your application since your funds are successfully blocked with the bank.

Cancelled my bid. But the amount is blocked for 2 mandate, got money back for 1 mandate and for other, I had to wait till March 21st to get back the amount. I applied through SBI bank, it is hassle free. At least it shows, bid reference number and other details. Hope for the best.

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If only someone had listened to you 10 days ago… :sweat_smile: Thank god, my allotment didn’t go through.

I Have applied for SBI Cards ipo using SBI Internet banking through ABSA, when I check the Status in BSE I Can See UPI Confirmation Status as Pending.

Thought I never used UPI to apply for IPO but the status is pending, any idea ? or this issues is with BANK ?

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The exchange might be showing the UPI status to all applicants by default. No cause for concern. The exchange shares the application details with the RTA and the bank shares the blocked fund status. The RTA reconciles these records and marks the application as eligible/ineligible for allotment.

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Bidding process done for SBI Card ipo. No allotment for me. But still amount is blocked as a lien amount in SBI. I applied via zerodha. Do you know the cause of it? Thanks

Hi All,

I had paced Bid for SBI Card IPO using UPI through YES Bank. Now i have received the IPO but the payment was expired because of the Current Ban on Yes Bank. Now the Shares are showing in my Portfolio. what should I do and how can I make the payment for the Bid?

I have been alloted with 1 lot SBI Card IPO, the amount which was hold dues to ASBA was deducted on the allotment day on 12-03-2020 However the exact deducted amount was reverse back to my bank account. How to proceed?

The block should have been already released. As it hasn’t been, you should approach your bank since the bank has to manually unblock your funds if the automatic revocation from your bank has not worked in the case of your IPO application. (Alternatively, you can wait till March 21st which is the end date for UPI mandates in the SBI cards issue)

Since you have received the shares, there is no cause for concern. You can sell the shares normally on March 16th when it lists.

Hey all,
I’m relatively new to trading. I had applied for SBI Cards IPO and was allotted with one lot. My mandate was approved, but however the UPI transaction to deduct the amount had failed several times. Now, the shares are reflecting in my DEMAT account but however, the amount wasn’t deducted from my savings account. Can anyone guide me with what needs to be done next in order to pay for the allotment? Will the transaction be reinitiated? Will a fine or penalty as such, be levied? Please help me through.
Regards,
Kishen

The amount must’ve got blocked when you placed your bid(between 2-5 March). Did that amount get unblocked?

Hey Lalit,
Yes, the amount was unblocked the same day the transaction failed, but the shares did reach my DEMAT account. Do you have a solution for this?

Hey Mohit,
I had applied for SBI Cards IPO and was allotted with 1 lot. My UPI mandate was approved but the transaction to deduct money failed several times. Later, the blocked amount was also unblocked, however the shares (1Lot) are now in my DEMAT account. Please help me out. Is there any alternate way to pay? Thanks

Hi Kishen, the onus of deducting payment correctly for your application is on the bank. You may hold on to the shares or sell them from your holdings as you will. You have no cause for worry here.

You can write to your bank with the details of the unblocked amount and your mandate in the meantime.

I am facing the same problem… anybody plz let me know… how to sort out this issue… my contact number 9986755866.

Even I’m facing the same problem… how to sort it out … plz let me know… my contact number 9986755866

Same with me today

Hello, I received mandate for Route IPO, but authorisation failed, Now how can I re-authorize the same on Gpay.
It says authorisation failed due to insufficient finds but I just checked my balance which is showing more than the required amount.
Thank you.