Originally Posted by $$Money$$
I also got the same email. The discount amount has also be credited. They must have suffered a decent size loss due to this goof up depending on how many clients applied.
This is one of the reasons I am reasonably satisfied with Sharekhan. They do mess up occasionally but are mostly fair in their dealings without having to break your head with them.
Yes, I think they would have suffered big losses. I am feeling bit sorry for them.
Sharekhan is more fair in dealing compared with other brokers. If there is losses because of their mistake, then normally they reimburse it to the client. But these problems are little too frequent.
- Whenever a new product is introduced in market, they are normally not prepared for it. There are good chances they will do some mistake.
- Sharekhan system is designed for more common things. Like for NCDs there are still flaws. Sometime NCDs are marked as T2T in their system, so they dont allow intraday. In NSE, they allow multiple of 5 paise only for NCDs, whereas exchange allows multiple of 1 paisa. I pointed out this issue many times, but they fail to rectify it. Margin calculation also has some flaws which are hard to explain to their customer care.
This time they solved the issue themselves. But most of the time, you need to raise complaint to get it solved. Convince the customer care that there was a problem from Sharekhan end. This requires both time and effort. If you dont know about the issue or you dont have time and patience to escalate this issue, probably you wont be reimbursed.
I am happy with sharekhan that they are more transparent than other broker. But I would prefer if they hire more trained people in their staff, who don't make these mistakes. Also make their system more user friendly. Make proper differentiation between different products.