Hi
@S P Toshniwal ! I've been reading through your thread and was rather amazed by some of the revelations you made
interesting to know but why would the exchanges turn a blind eye to this when all fees are usually listed on every brokers website which is audited by exchanges plus the clearing charges are clearly ( no pun intended) mentioned. generally curios
Please read my Blog on
Overcharging ‘Exchange Transaction Fee’ by Many Brokers in India . This is detailed.
Keep one simple calculation in mind. Anything which is not regulated either by SEBI or Exchanges cannot be charged to client in Contract Note. PCM Fees is not regulated either by CC or SEBI. There is no upper limit for paying PCM fees. Even told to client transparently and even after taking written consent , cannot be charged in Contract Note. Stock Broker can have separate bilateral agreement with client and can charge to client in ledger by issuing separate bill but not in Contract Note. There are set of Rules for Contract Note like format , What can come, what cannot come etc.
There are so many client who has taken refund along with interest. There is one large Stock Broker from south became self clearing from PCM to avoid this risk for past collection.
There are so many thing which are ignored for one reason or the other. There are Stock Broker who are giving 100 times leverage in FNO, Do you fell they are using there own money? Which Stock Broker will put his own Rs 99 lakhs when client bring just Rs 1 Lakh ?
There are Stock Broker who are monthly plan of Rs 99 but PCM fees which may be even 10 times of what actually required to be paid.