New SEBI rule make Syndicate Members redundant.

Latest SEBI rule regarding payment of commission for ASBA in issue process clarifies that for the purpose of payment of commission, both type of applications i.e. whether uploaded by Syndicate Members (Non–ASBA) or by SCSBs (ASBA), shall be treated on par and the commission shall be paid accordingly to Syndicate Members or SCSBs, as the case may be. Under the above situation, what role will the syndicate member be left with because it cannot offer ASBA mechanism to its clients. The SEBI rule states that the payment of commissions in the issue process should be based on the principle of fairness which demands a level playing field for both ASBA and non-ASBA applications. But, when it comes to providing equal opportrunities to Bank and Non-Bank entities, the Banks always get better treatment from the regulator. If the banks have now come to realise that there was no incentive for them, then why did they chose to become SCSBs in first place. Isn't it true that the banks will get all the blocked amount at the interest rates applicable for CASA deposits as against 7 - 9 % for Fixed Deposits ? Wouldn't it have been fair, if Syndicate Members also would have been allowed to offer ASBA facility to their clients either by lodging their applications with the SCSBs or by some other mechanism. Is SEBI convinced that the SCSBs will make adequate efforts to market/ distribute the IPOs. Isn't it that the Banks will just try/ get to make money without making any sincere effort on marketing/ distribution just by being a banking entity. Have banks committed to home deliver forms to their A/c Holders and then get them picked up ? Do they have sufficient infrastructure to service a large no. clients in branches. It is well known that most banks are overly dependent on ATM networks so as to reduce costs. Incidentally, the two day Banking Strike blackmail starts today. Any Comments ? Will SEBI consider putting penalties on the SCSBs for putting public convenience to ransom ?