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Beware Of Hdfc Bank

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  #1  
Old 12th June 2008, 03:53 AM
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Default Beware Of Hdfc Bank

I am an NRI in USA and have a PIS Account in HDFC Bank.
I sold some shares recently and they are refusing to accept the payment from my broker.
My money is stuck due to this bank.
NRI's do not open a PIS account in HDFC Bank.
You will risk all your money if you do so

Last edited by Saint; 12th June 2008 at 10:18 AM. Reason: Language!
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  #2  
Old 12th June 2008, 07:55 AM
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Default Re: Beware Of Hdfc Bank

Any reason they gave to refuse to accept the payment from your broker.

Last edited by Saint; 12th June 2008 at 10:18 AM.
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  #3  
Old 12th June 2008, 04:21 PM
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Default Re: Beware Of Hdfc Bank

Please elaborate what is PIS account and the reasons given for not accepting monies.
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Old 12th June 2008, 04:35 PM
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Default Re: Beware Of Hdfc Bank

Quote:
Originally Posted by harmads View Post
Please elaborate what is PIS account and the reasons given for not accepting monies.
Portfolio Investment Scheme (PIS) allows NRIs to invest in shares of Indian companies, in secondary market, under repatriation or non-repatriation basis in respect of shares or convertible debentures sold or purchased through a registered stock broker on a recognised stock exchange. Any other modes of acquiring shares are not covered under this scheme ie, shares purchased through IPOs, as resident individuals, bonus shares etc.

googling
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  #5  
Old 14th June 2008, 07:20 PM
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Default Re: Beware Of Hdfc Bank

I hear you my friend. Anyone visits HDFC Bank will get creeps. That is their moto.

Cheers
VG


Quote:
Originally Posted by rs74 View Post
I am an NRI in USA and have a PIS Account in HDFC Bank.
I sold some shares recently and they are refusing to accept the payment from my broker.
My money is stuck due to this bank.
NRI's do not open a PIS account in HDFC Bank.
You will risk all your money if you do so
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  #6  
Old 18th June 2008, 04:12 PM
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Default Re: Beware Of Hdfc Bank

I am an NRI and have been trading with HDFC since last 3 years and did not face any problem. My broker is HDFC though.

Thanks
DK
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  #7  
Old 20th June 2008, 06:27 AM
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Default Re: Beware Of Hdfc Bank

Goood for ya and them too!!


Quote:
Originally Posted by ace3_12 View Post
I am an NRI and have been trading with HDFC since last 3 years and did not face any problem. My broker is HDFC though.

Thanks
DK
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