Upon request, State Bank of India, Securities Wing, opened one DEMAT Account in my name and informed me of it. But, they did not the KIT as promised in their SMS. More than a month waited. Then, I gave them e-mails. They said "already sent" - but not received. Then, I searched the internet, downloaded the Trading Software, and tried to TRADE shares. When I tried to transfer money from my SBI A/c to Demat a/c, it was not working. I gave repeated e-mails to them. Then, they asked me to contact my SBI Branch. I got 'internet banking kit' from them, but it was not working for more than a month. I made repeated complaints to all these people, but they were not attending to it. Meanwhile, they told me that they would deduct Rs. 500 as charges for opening the Demat a/c, and Rs. 388 towards Maintenance Fees. I warned them that they can not do it, since the very a/c was not working even after nearly three months. Yet, they deducted the amount. Even then, it was not made to function.
So, fed up, I told them, that I do not want their Demat a/c, close it, and refund the amount of Rs. 888. Even after 20 days, and a reminder, they are not replying/refunding. [After three visits, personal contacts, few SMSs, e-mails, the staff of my SBI Branch, made the Password of SB A/c to work. But, before that, I told them twice that I donot want to continue with Demat a/c. So, I did not try to find whether Demat a/c works or not after this]. I have all doc. proof to support my allegation of their carelessness, deficiency in service. Kindly advise me, whether I should go to Ambudsman or Comsumer Forum to get the refund of Rs. 888 + compensation. Mohandoss. R.
