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IPO to be rejected if there’s no amount in the bank in real-time

From now on, the IPO application will be rejected if the system finds that the applicant has no enough amount in their bank. The new feature is applicable to the ASBA member banks that have installed CDSC’s API.  

Applicants will instantly get a notification about the amount in their bank account and on the occasion of not enough balance, the IPO will be rejected instantly. Learn here: Mero Share Login: How to Apply IPO

The Securities Board of Nepal (SEBON) approved CDSC’s API procedure to facilitate the integration of this new feature. CDSC sought ratification for the procedure a year ago. Now, the CDSC board will bring it into implementation. Also read: Brokers Can Use Their Own TMS for Share Trading, Nepse Rules

For this, service providers will need to install API in their systems and CDSC has authority to charge for the service.

CDSC Chief Executive Officer Purna Acharya said that after using API, users will get real-time information about the amount in their bank account.

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