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If I use UPI mandate based IPO Application, the amount is put into Hold by the bank until the allotment date & in case of non-allotment, the hold is removed by the bank and amount is released. My question is that if I am appliying for a IPO (on the first date of IPO schedule) - the amount is blocked and remains on hold for 3-4 days until allotment. For this period of time where the amount is in HOLD by the bank, will the banks give me interest - similar to the free cash in my savings account?
Will the amount on hold be considered for AMB requirement?