You can use this article to understand the C-ASBA Charges of Commercial Banks in Nepal. Also, you will find the C-ASBA charges for Development Banks and Financial Institutions including the free ones.
Furthermore, you will also find out what ASBA and C-ASBA are, and how to use them. You may have heard of these terms while applying for an IPO through your bank or MeroShare. Don’t worry, we will take you through all the details.
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C-ASBA charges in Nepal
With the development of the C-ASBA System, now it’s easier to apply IPO/FPO/Right Share online. Here we are going to discuss C-ASBA Charges by different Commerical Banks, Development Banks, and Financial Institutions.
Under C-ASBA, most of the banking/financial institutions charge you for applying the applications. The charge is basically a holding charge that is done in the backend system by banks.
1. C-ASBA Charges of Commercial Banks in Nepal
|Bank Symbol||‘A’ Class Commercial Banks in Nepal||C-ASBA Charge|
|MEGA||Mega Bank Nepal Ltd.||Free|
|NABIL||Nabil Bank Ltd.||Free|
|NICA||NIC Asia Bank Ltd.||Free|
|RBB||Rastriya Banijya Bank Ltd.||Free|
|NBL||Nepal Bank Ltd.||Rs. 10|
|ADBL||Agriculture Development Bank Ltd.||Rs. 10|
|NIBL||Nepal Investment Bank Ltd.||Rs. 20|
|HBL||Himalayan Bank Ltd.||Rs. 20|
|SBI||Nepal SBI Bank Ltd.||Rs. 25|
|NBBL||Nepal Bangladesh Bank Ltd.||Rs. 10|
|EBL||Everest Bank Ltd.||Rs. 20|
|KBL||Kumari Bank Ltd.||Rs. 20|
|LBL||Laxmi Bank Ltd.||Rs. 25|
|CZBIL||Citizens Bank International Ltd.||Rs. 20|
|PCBL||Prime Commercial Bank Ltd.||Rs. 10|
|SRBL||Sunrise Bank Ltd.||Rs. 10|
|CCBL||Century Commercial Bank Ltd.||Rs. 25|
|SANIMA||Sanima Bank Ltd.||Rs. 20|
|GBIME||Global IME Bank Ltd.||Rs. 15|
|NMB||NMB Bank Ltd.||Rs. 20|
|PRVU||Prabhu Bank Ltd.||Rs. 10|
|SBL||Siddhartha Bank Ltd.||Rs. 10|
|BOKL||Bank of Kathmandu Ltd.||Rs. 10|
|NCCB||Nepal Credit and Commerce Bank Ltd.||Rs. 10|
|SCB||Standard Chartered Bank Nepal Ltd.||Rs. 100|
2. Commercial Banks with Free C-ASBA Charge
Mega Bank, Nabil Bank, NIC Asia Bank, and Rastriya Banijya Bank are the list of four commercial banks in Nepal that provide free C-ASBA Services in Nepal till date.
- Mega Bank Nepal Ltd. (MEGA)
- Nabil Bank Ltd. (NABIL)
- NIC Asia Bank Ltd. (NICA)
- Rastriya Banijya Bank Ltd. (RBB)
Also Read: Upcoming IPO in Nepal
3. C-ASBA Charges of Development Banks & Financial Institutional in Nepal
Here is the list of development banks & financial institutions in Nepal that provide C-ASBA services with some minimum cost or for free.
|Symbol||Development Banks & Financial Institutional||C-ASBA Charge|
|MFIL||Manjushree Finance Ltd.||Free|
|GBBL||Garima Bikas Bank Ltd.||Rs. 10|
|LBBL||Lumbini Bikas Bank Ltd.||Rs. 10|
|MNBBL||Muktinath Bikas Bank Ltd.||Rs. 10|
|MLBL||Mahalaxmi Bikas Bank Ltd.||Rs. 10|
|KSBBL||Kamana Sewa Bikas Bank Ltd.||Rs. 20|
|ICFC||ICFC Finance Ltd.||Rs. 25|
What is ASBA?
ASBA stands for Application Supported by Blocked Amount. ASBA is a system wherein the application money is blocked in the bank account from where the application has been made. ASBA was introduced in 2008, and since then, it has been recognized and accepted as a good option for IPO applications.
The main benefit of using ASBA is that your funds are blocked only when you apply for publicly issued securities. This means that if you are not allotted sufficient shares, or if no shares at all get allotted to you, then your money will be released back into your bank account automatically on the refund date.
ASBA banks are the banks that have been authorized by the Securities Board of Nepal (SEBON) to facilitate the ASBA process for their customers.
Check Out: Broker Commission in Nepal
What is C-ASBA?
C-ASBA (Centralized Application Supported By Blocked Amount) is a new method of applying for IPOs that has been developed by the CDS and Clearing Limited. Although it is possible to apply for IPOs using the traditional paper application process by visiting your bank, it is significantly easier and faster to do so using C-ASBA.
The advantage of C-ASBA is that it provides more convenience to applicants as they can apply for IPOs through their own banks without having to open an account with a designated ASBA bank. C-ASBA is the system of applying for IPOs in Nepal through ASBA-enabled banks.
The working mechanism of C-ASBA is that instead of paying the entire amount of shares applied for upfront, the applicant only blocks an amount equal to the shares applied for in his/her bank account.
If the shares are then allotted to the applicant and the money gets debited from the account only when the shares are allotted. The process of applying for IPOs through C-ASBA is similar to the process of applying through ASBA banks.
The main difference between ASBA and C-ASBA is that in ASBA, the applicant has to open an account with a designated ASBA bank whereas, in C-ASBA, the applicant can apply for IPOs through his/her own bank.
How to get CRN Number in Nepal?
- Open a bank account if not already.
- After having a Bank account, ask your bank for the C-ASBA form.
- Fill up all the necessary information including DEMAT info.
- Wait for the verification from Bank End.
- Finally, after verification, Bank will provide a CRN Number.
- Keep it safe, you need it while filing up the IPO.
How to apply for an IPO through C-ASBA?
To apply for an IPO through meroshare, you need C-ASBA Registration Number (CRN) and you need to follow these steps:
- Open the Meroshare app or website and select “My ASBA” from the menu.
- Select the IPO you want to apply for. To check if the company is available, check to Apply for Issue tab.
- Fill up the application form with your required information (Bank, Kitta Number, Amount, and CRN).
- Read this article to know How to Apply for IPO in Nepal using MeroShare?
- Finally, check the status of your application by going to “Application Report“.
What is the difference between ASBA and C-ASBA?
If you’re wondering what the difference between ASBA and C-ASBA is, here it is: C-ASBA is an online-based system that allows you to apply for publicly issued securities applications directly online. The normal ASBA process requires you to visit your bank’s branch and fill out an application form for it. C-ASBA is much more convenient than visiting your bank.
What is CRN Number?
CRN stands for C-ASBA (Centralized Application Supported By Blocked Amount) Registration Number. It is a unique number that helps to connect your bank account with DEMAT Number. The CRN number for every customer is unique to avoid conflict while blocking the amount from your bank account while applying for the share application.
Is there any banking or financial institution that provides free C-ASBA in Nepal?
Yes, as of now we have 5 different institutions that provide free C-ASBA charges in Nepal and they are Manjushree Finance Ltd. (MFIL), Mega Bank (MEGA), Nabil Bank (NABIL), NIC Asia Bank (NICA), and Rastriya Banijya Bank (RBB).
Do you need a CRN to Buy/Sell Stock in the Secondary Market?
No, you don’t need a CRN number to Buy/Sell Stock in the Secondary Market. However, CRN is compulsory to fill up the IPO/Right Shares.
At the End
Currently, only certain banks/financial institutions are offering free C-ASBA services. However, most banking and financial institution charge the amount for each application.
The amount starts from Rs. 10 to Rs. 100 and you might want to check with your bank as well if they offer this service for free or not.
Also, if you find any information missing or incorrect in the above articles or charges then feel free to comment below.