I enrolled in HDFC gold ETF believing its one of the best private firms. Bank persons were very supportive while I was making the investment. So all seemed well.
Now when I wanted to withdraw my investment first, they made all kind of excuses and logic as to why my negative investment is actually an asset. I know finance and this guy is giving me crap which I did not expect from a bank personnel.
So finally I gave an application of cancellation of SIP. on 20th July. But SIP deducted on August 5th. On asking they said that I was a bit late in submitting application so again I gave application on August 8th But without any use SIp got deducted on September 5th. I was all over their office but these people had not the least bit of shame. Told me to resubmit application and this time for sure they would get it done.
Alas again on Oct 5th SIP deducted. So these people using unfair means have invested my money in an Instrument I demanded to stop investment in. By any means it is unfair trade practices so I will sue them in consumer court but now they are telling that they cannot give me copy of the past cancellation application which I submitted at their office as they have sent to to their base office.
So Now I would need to wait for them or create a fuss in base office such that things get done. This is the state of Even top Private firms in India working like Government firms.
I am determined to sue these cheats and show them living daylights once I get all the 4 receipts for SIP cancellation. SO Friends If anyone can suggest me a way to get this resolved and also show these bank personell their place please Suggest.
So my suggestion never invest with HDFC.
The location where this happened/happening.
HDFC bank, Telco Jharkhand branch
Main Branch , In Bistupur, Jharkhand
Regards,
Sridhar