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<h1>SEBI Mandates New ASBA Processing Rules, Compensation for Delays, and SMS Alerts to Investors; Immediate Effect.</h1> The circular issued by SEBI on April 20, 2022, aims to streamline the process of public issues and address investor grievances. It mandates a uniform policy for ASBA application processing via UPI, introduces a new reporting format for SCSBs to track unblocking of application amounts, and ensures compensation for delays. SCSBs must apply for processing fees within 30 days post-allotment and are liable for compliance. Additionally, SCSBs are required to send SMS alerts to investors regarding ASBA applications and may include invoice details in the inbox. Non-compliance may result in actions under securities laws. The circular is effective immediately.