ICICI direct is a wing of ICICI bank offering stock trading/investment facilities. With the assurance/belief that it is backed by one of the leading Indian private banks we had opened an account with the ICICI direct. In the normal conditions the service or the response is quite acceptable level. but as the saying goes you know who is your best friends only when you are problems and not when you are in a comfortable position. similar thing is true for ICICI direct.
During Mumbai floods (two year back ! ) they had lost all the documents of their customers. and wanted the customers the fill them again. Simple is it not. But the chain is so weak that when really a problem arises they are really inefficient and make a mess out it.
All the customer executives are actually in efficient crap as far as handling customer’s problems is concerned. I think they are not as serious as they appear to be. I had submitted all my documents once again but because of some unknown reason they were rejected. And thus problem started. ( Till now I had submitted three times total). They will simply lock your trading account so that you can not do any activity but still charge. their annual fees for offering the excellent activity.
The local branch office whom you meet will not give any satisfactory reply and worst they will not give any acknowledgement either to you so that you have a proof that you have submitted the documents.
It is ~ 2 year old story.and still they could not solve it. If you take an account with them you have to make roundtrips to them and find time in your busy schedule. All this is a fine/penalty for taking an account with the ICICI direct!
May god give them enough wisdom so that their efficiency level moves up. so be careful!
Yelchuris
Status as on Oct 13 2009 ( seasons change but no progress)
It is a solid rock boss! Nothing moves. Hats of my fellow Indians!