[Resolved] Reserve Bank Of India (RBI) — IT IS TRUE OR NOT FOR COT CODE | |||
Reserve Bank Of India, Central Office Building, New Delhi, India. Ref.No. IDMD /5531 /08.02.33/2011-120 Date: 4th Sept 2014 DEAR ESTEEM COSTUMER: MR. GYANESH KUMAR SHARMA, In receipt of your mail and its content, i wish to inform you that we have been able to trace the reason why your transfer was not successful, you tried to make transfer, but your operations/transfer was automatically stop as you are required to provide C.O.T code number; this is called Minimum (Cost Of Transfer) different/Digital signature code of transfer. We hereby bring to your notice that we received a telex notification from our system that customer's must make payment for the Cost Of Transfer processing/procurement of the said C.O.T code, as this will enable Transfer Department issued an approval for the C.O.T CODE number for the disbursement of your funds into any of your designated account through our online banking facilities. We notice that your Transfer was On "Hold" because you have not yet made the payment for the Cost Of Transfer (COT) charges. The C.O.T Charges is Legally for licensing and coverage documentations approval signatures for the transfer before money reflects in your nominated bank accounts. This is in accordance with section 13(1)(N) of the Local Transfer Act(LTA) as adopted In 1993 and amended on 3rd July 1996 by the constitutional assembly. Furthermore, to obtain the C.O.T code, you are therefore obliged to remits a payment of Ninety Eight Thousand Four Hundred Rupees (Rs.98, 400/-) Also note that the administrative/procurement services do not reserve the right to make any form of deduction or tempering with your fund as a regard to the insurance bond policy covering your funds. Therefore you are to make a cash payment of Rs.98, 400.00/INR Only being for COT code. Upon this regards and confirmation of this payment been made and properly endorsed by our brokers, we shall however expedite action to effect process and obtain the C.O.T code immediately and appropriately and provide to you to complete your transfer. Hence, you are to get back to us for the brokers account detail where the payment has to be made. Best wishes and thanking you for your foreseen co-operation. We the management, staff of the Reserve Bank Of India wish to apologies for any inconveniences this might cause you. Your handling of this matter with utmost urgency will be highly appreciated and we are looking forward to serving you better. Best Regards, Suresh Harpreet Private banking/wire transfer Department Reserve Bank of India. ***************WARNING***************** This message was sent from the Transfer Department of Reserve Bank Of India. It is only designated for intended recipient only. If you have received this email in error you should immediately discard it without transferring or storing any of its content. Anyone caught not abiding with these rules will be made to face the law as all communications are officially meant for Reserve Bank Of India customers only. Was this information helpful? | |||
Complaint marked as Resolved
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