Understanding UPI

What is a UPI ID?
UPI ID (also called Virtual Payment Address or VPA) is a unique ID. The investor needs to create a unique payment ID by adding his/her bank account details....
Thu, 16 Dec, 2021 at 11:47 AM
How can I apply for an IPO using UPI as a payment option?
Investors need to fill in the bid details along with his UPI id linked to his/her own bank account The limit for IPO application is 2 Lakhs per transact...
Thu, 16 Dec, 2021 at 11:47 AM
How much money is blocked in my bank account?
Investors  can place up to 3 bids in an IPO application. For instance, the price range of an IPO is Rs. 100 to Rs. 120. investor can  place the following bi...
Thu, 16 Dec, 2021 at 11:48 AM
Can I use a third party UPI ID or a third-party bank account for making payment in an IPO?
No, applications made by retail investors using third party UPI ID or by any category of investors using a third-party bank account are liable for rejection.
Thu, 16 Dec, 2021 at 11:48 AM
Is there any further action I need to take to get the amount blocked in my bank account?
Yes, after placing the order, you will receive an SMS confirming your bid and requesting you to accept the mandate on the UPI app. Please visit your UPI app...
Thu, 16 Dec, 2021 at 11:48 AM
What happens if I have not accepted the mandate on my UPI app?
In case you have not accepted the mandate on your UPI app, your IPO application is liable for rejection
Thu, 16 Dec, 2021 at 11:49 AM
What happens to my mandate, in case I have modified my bid?
In case of modification, you need to accept the revised mandate as received on your UPI app.
Thu, 16 Dec, 2021 at 11:49 AM
Till what time shall my money be blocked in IPO?
The money will be blocked until the finalisation of allotment, post which the amount equivalent to allotted shares would be debited and balance amount (in c...
Thu, 16 Dec, 2021 at 11:50 AM
What happens when an IPO is allotted?
After the closing of an IPO, the finalisation of allotment happens by the third working day also, called the basis of allotment date. On the fourth working ...
Thu, 16 Dec, 2021 at 11:50 AM
What happens if an IPO is not allocated?
In case shares are not allotted/ partially allotted, the amount blocked shall be unblocked. The amount is deducted only when the shares get allotted. Only t...
Thu, 16 Dec, 2021 at 11:50 AM