This might be the worst stock broking company I have ever dealt with.
I applied for an account in early Dec 2007. I was promised that my account would be activated within 15 days. My phone-based verification happened within 7 days of applying for the account. And then there was no sound from the other side! I wondered if Reliance Money had shut down operations. So, I called them up almost every day. And everyday I did NOT get to speak to one person from Reliance Money!
Then around Jan 10, 2008, I finally managed to get across to some call center babe from Reliance money. She spoke well and said that my account was under consideration and would be approved soon. She also informed me that I would receive my "welcome kit" by Jan 20, 2008.
After Jan 20, 2008 had passed, I called up to find out the status of my account. No response as usual! Practically 3 calls every day for the next 9 days led to one response in which I was informed that my welcome kit was sent to the nearest branch. When I enquired with the nearest branch, they did not have any such kit in my name.
For the first time since my application was filed, I received a call today from the "nearest" reliance money center asking me to come pick up the welcome kit. That nearest center is 20 miles away!
All in all, I am wondering why I applied for the account with reliance money. I wish I had checked the reviews on various stock brokers before applying to Reliance money.
Bottom line: don’t waste your time. The reason they have 10p trading is because they don’t let you trade! They just want to take away 750/- from you. Imagine this: even if a million people apply for this stupid non-functioning service, Anil D. Ambani has 750million ruppees in his pocket for conning people just like everyone else in his family does.