29 Apr 2022 11:13

Joined:	18/10/2008
Level:	Platinum
Points:	226424

Points:	5

Why is LIC IPO associated only with the UPI payment platform?

I got the information that those keen to purchase LIC shares through the upcoming IPO that opens for application from 4th to 9th May 2022 are required to register first with the Bharat Interface for Money (BHIM) UPI mobile app. We then have to give the UPI ID no. in the application form.

Why is this mandatory? Isn't it an imposition to use only this app platform for payment? Why isn't there a facility to make the payment via a cheque?

How many of you are aware of this? Do you use the BHIM UPI app for any type of payment? Have you had issues with using it? Did any security issues arise on using?

#756078

29 Apr 2022 13:57

Joined:	12/10/2009
Level:	Platinum
Points:	250432

Points:	5

What I could understand from this arrangement that LIC has the most trusted policy holders for years together and when it comes to owning the shares now, surely everyone would be interested to do so for being the most formidable and trusted insurance company. The UPI interface makes mandatory for individual purchasing of shares and not by corporate bulk purchasing or someone who is so wealthy and could purchase the entire shares in one go. Probably for the first time such a good thought has been emanated looking into the wants and safety of individual investors who are now assured of shares which can be obtained according to their capacity. So the brokers are kept abay, they cannot block the shares for others nor any rich person can go for the wholesome purchase of shares. Good going and thought provoking by LIC.

K Mohan
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

#756098

29 Apr 2022 16:39

Joined:	10/12/2016
Level:	Platinum
Points:	88425

Points:	4

The IPO being launched by LIC has evoked a lot of interest in the general public. Govt is going to generate a lot of funds through this exercise.
Govt is also keen to make the UPI schemes more popular in the country for online digital payments and in that background it might have decided to popularise BHIM UPI using LIC IPO platform. Due to the much abated interest in this IPO, it is likely that a large number of people would be registering for the mandatory UPI plateform and Govt would be successful in its objective of promoting digital transactions.
UPI platforms are working quite satisfactorily in our country and one can register in them including BHIM.

Knowledge is power.

#756100

29 Apr 2022 16:58

Joined:	02/06/2009
Level:	Platinum
Points:	119941

Points:	4

As per the news published in the Times of India, the persons who want to bid for these shares should use the Application Supported by Blocked Amount ("ASBA") process providing their ASBA account details, UPI is one of the options. but not the only option.
The individual can apply online for these shares. UPI apps live on IPO are - BHIM in partnership with IDBI bank, HDFC bank, Axis bank, SBI, Yes Bank and many other banks. MobiKwik. Google Pay, Paytm and phone pay can also be used for this application.

drrao
always confident

Why is LIC IPO associated only with the UPI payment platform?

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