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Karvy Group

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1.5

Summary

Karvy Group
Sep 21, 2016 12:16 PM, 23515 Views
(Updated Sep 21, 2016)
Unethical arm twisting tactics

While opening trading a/c(A13000340), Karvy had agreed to reverse 50% brokerage every month, which they were doing till July 2016. However since then they have stopped it unilaterally, informing that this benefit would only be given if I trade on their Mobile Application. This is no less than arm twisting a client and also defeating very principle of what’s agreed. Everyone knows, that any Mobile Application is nothing but a stripped down version of full fledged Desktop version. I feel very much let down by their CFO, who refuse to answer or justify forcing client to switch to mobile app to get benefit of 50% brokerage reversal.


In addition to above, Karvy has many a times delayed crediting the pay-out requests since beginning of the current FY. When there was no technical problem in 2014 and 2015 in crediting same day, how come they are delaying the pay out by 1 day late(even though my ledger is debited 1 day earlier) thus raising strong suspicion in my mind of Karvy utilizing my money for servicing pay-in request of some of their so called esteemed customers.


Till date, I have not received any satisfactory reply from concerned CFO viz. Mr. Murali Govind.

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