KYC stopped registering CDSL

Discussion in 'Investors Grievances' started by rakamaka, Jun 30, 2011.

  1. rakamaka

    rakamaka Member

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    I have ICICIdirect brokerage acct. Everything was fine. Suddenly around 15th May, KYC stopped registering. Called ICICI. Not their peoblem (always).
    There is no change in my tax status, location, or anything.
    Submitted documents to CDSL around May 20th.
    No reply from them. Online check says "Invalid data"
    I cannot place orders and stucked with securities and MFs in my acct.
    Why CDSL is so unprofessional and inefficient. They cannot handle requests from all over india.
    What to do?
    KYC maybe needed for MF transactions but is it complusary for Stocks trading also????
     
  2. SavantGarde

    SavantGarde Well-Known Member

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    KYC (Know Your Client) has been a requirement for Stock Trading even before it was made compulsory for MF.

    With the particular problem you are facing, I suggest correspond through email with both ICICIDirect & CDSL...so that you have a trail of your query...also mark CC to all concerned.


    SG

     
  3. rakamaka

    rakamaka Member

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    Tried to communicate CDSL. Cant get thru.
    ICICI dont cooperate.
    Wait and pray.
     
  4. SavantGarde

    SavantGarde Well-Known Member

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    One more suggestion.... mark all your emails with a cc to SEBI.... think that should jolt these idiots out of their slumber

    SG

     
    comm4300, VJAY and PGDIMES like this.
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