NISM-Series V-A: Mutual Fund Certification Exam Notes
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NACH is useful for corporate and financial institutions that make payments in bulk like dividend distributions, salaries, interests, pensions, etc
Unified Payment Interface - (UPI) allows fund transfer between accounts through the mobile app.
There are many UPI apps available such as BHIM, banking applications, Aadhaar app etc.which one can download on their phone.
After the application (app) is downloaded, a Virtual Payment Address (VPA) must be created by going through an authentication process
Application Supported by Blocked Amount (ASBA) is a facility where the investment application in a New Fund Offer (NFO) is accompanied by an authorization to the bank to block the amount of the application money in the investor's bank account.
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