Q. Application Supported by Blocked Amount (ASBA) was seen in the news recently, is associated with –

[A] Saving deposits in the banks

[B] )Online Frauds

[C] IPO application process

[D] Preventing loan default

Answer: C

Explanation – ASBA is a process developed by SEBI to apply for IPOs, Rights and Debts Issue, FPS and more. It entails that the amount to be paid for subscribing the shares does not get debited from the investor’s account until the shares have been allotted by the company.

Source: ForumIAS