How to Apply IPO through UPI Online?:
Nowadays, you might have seen that many of the people are making them more familiar to the technology and accepting the online mode for the daily transactions.
So now you can also apply for the IPO with yourself with the use of online UPI.
And how you can do it, we will see in this article about the procedure.
Looks like most of the population are adopting the use of the technologies and for the people that are using the online for the first time then they need some guidance.
Likewise, with the invention of the smart phones, not all are habitual with the technology at first but later on, they also adopted the methodology and make themselves upgraded.
So this article contains the details about “How to apply IPO through UPI Online?”
Do you know what actually the UPI means?
UPI stands for Unified Payments Interface. This is the platform for making instant payment using the mobile.
It also offers the feature to transfer the amount from one person to another one.
And this same UPI is also used for applying the IPO.
The National Payments Corporation of India invented IPO and it is regulated by the RBI.
Starting with the article further,
How the UPI helps with the IPO process?
It reduces the time took for the process that is the actual time taken is about 3 working days.
It helps the investors that can apply for the IPO online through any of the brokers.
In some banks, there is the online facility that has no limitation for applying of an IPO.
With the help of UPI facility, it reduces the manual workings in the procedure of IPO.
The UPI helps to use the multiple functions of the bank by simply using the mobile application that also contains many banking features, payment features etc.
Now let’s see what are the requirements of the UPI?
Requirements for the UPI Application
Every Bank provide their own UPI Application that is available on Windows, Android and for the IOS mobile platforms.
In 2019, from May onwards the UPI mechanism for all the retail category is working on the BHIM Application.
Most of the mobile application of the banking or for the payment application has separate options for BHIM UPI.
For the smart phone holders, there is a need to download any of the application that has BHIM UPI.
You need to have a bank account that has the facility of the UPI.
Then the next thing that is important is you need to get your mobile number linked with the bank account that you hold which have UPI facility.
You will be needing the active debit card of the same bank account to set the UPI Pin.
So, you get the requirements for the UPI.
Now, the next step you need to know is about the steps to apply in IPO using the UPI App.
Steps to Apply in IPO using the BHIM UPI Application
- Download or install BHIM app or you can download the payment or the banking apps that have the UPI facility with them from Google Play Store or From Apple App Store
- Then select the preferred language, depends on individual to individual
- Select that mobile number that is registered with your bank account
- Login with setting a 4 digit application password
- Select and link your bank account that is connected with the UPI
- After that, you need to select the UPI PIN by providing the last 6 digits and expiry date of your debit card
- If the investor or the trader has the multiple bank account linked with the same mobile number, then he needs to select the Primary account for the application of the IPO.
- UPI Id contains the mobile number after that @UPI, suppose your number is 9988566772 then your UPI will be 9988566772@UPI
- This above ID should be need to mention in the IPO application
We had mentioned the steps regarding the IPO application and also answered about the benefits of applying it using the online technology that is available that is UPI. Most of the population is adapting the technology in every sector as this defines our country to become the developed nation soon. Hope that you liked our blog on “How to Apply IPO through UPI Online?” and you can also share your queries or doubts through email address. Trading Fuel is our blog site that provides free education to the daily readers of the stock market. There are also many blogs already posted regarding different aspects of the stock market. Read more and stay updated.