SBIcap Securities Ltd. Complaints & Reviews

On 23rd of August, 3.29 pm
I placed a trade in market order to buy HAL 4450 ce 31st aug when the price was near 20 rs
But my order got executed at 36 rs

And now they are not responding well over it.

Requested for closure of Demat account on 19/07/2023

But as of now it is not closed. However, I have also requested to the help desk team for closure of the same at back end but still it is not closed.

I have initiated the closure request of my Demat account through online on 19/07/2023.
But as of now it is not closed. However, I have also requested to the help desk team for closure of the same at back end but still it is not closed.

I opened an SBI savings bank account on August 4, 2022, and I just noticed that Rs 588 has been deducted (transfer to sbi securities).
I did not request that a Demat account be opened in addition to the savings account.

Regards
VISHAL CHAURASIA...

My Apollo tricoat shares had ex bonus date of 16-9-21 but my bonus shares were not showing in my holdings toll date.Followed up with RTA and got SMS for allotment snd listing of bonus shares but sbi cap nether bother to credit.SBIcap is not worth its reputation and follows many unfair policies.
When you call you are kept on long holds and many a times the calls get disconnected.Nobody bothers you call back and if you are able to tell your complaints they are hardly complied with.Dividends are long pending from them more than 2 months and telling on phone doesn’t help at all.Lots of mails are written and a standard reply is received that they need 1 more working day.Hiw many more working days do they need for a single complaint.So many people are employed by them but they don’t seem to be worth it.DPC charged unnecessarily on credit balances have mot been reverted back till date.
The RM is hopeless and misbehaved but nobody bothers to change him.My RM is hardly of any help anytime.

Today noticed a very strange thing while trading after market hours from 3:40-4pm
The prices reflecting on website were more than the prices showing settled.Screenshots attached.
I lost a lot due to these cheating policies of the company.They are charging such high brokerage but still trying to export more from the clients.Why a severe action is not taken by tge RBI or SEBI against them I fail to understand.Would like you to forward this complaint to SEBI.
Please take strict action against tge company since they are following unfair means and minting money by befooling customers.

SBIcap securities is either giving incorrect information to RTA or on their own withholding our dividends.
The following are discrepancies I have been following on since long.There might be from other companies too which I might have overlooked.This is sheer cheating and against public interest.
A serious matter to be looked into.Already the brokerage is not less snd the services provided are very little.No response to our queries also most of the time.

Hdfc bk 6.50*28=[protected]bk credit 78 difference 104) [protected]@datamaticsbpm.com

Aarti industries 1.5*444=[protected]

UPL. 10*39=[protected]bk credit only 70/-)(diff.320)

Blue dart(final) 15*10=[protected]bk credit only[protected]diff.135)(past history showing 150)

Cummins. 8*40=[protected]past history showing 320)(no credit till 8-8)

Tech Mahindra. 45*52=[protected]-8 credit to bank only Rs.1200-under credit of Rs.1140)

ITC 5.75*1560=[protected]-8 7353+1617 diff.[protected]=[protected]=720 short credit)

Though my dividend from M&M of Rs.586.25 is showing in past history but it has neither been credited to my bank or SBIcap ledger inspite of writing to tgen multiple times.The matter is always being postponed.
Further there has been short credit of dividend from ATGL to the extent of Rs.10.25 and from HDFC to the extent of Rs.552.
Can’t follow up to this extent for petty matters

Yesterday I traded in the stocks of Aarti industries which had issued bonus shares in the ratio of 1:1 on 22-6-21.My bonus issue was updated in portfolio on 29-6-21.
I sold 45 shares yesterday on 1-7-21 but fit finding out the profit with respect of these traded shares the av.buying price was consider at the old double rates and the selling price at the current reduced rates thereby shoeing a huge loss in my account instead of profits.
My av.selling price was slightly mote than Rs.858 per share and the buy price was much lower.Instead of booking profits for me SBIcap has booked huge losses by considering the stalling price at post bonus issue price and the buy price at pre bonus price.Obviously this treatment is wrong.Both buy and selling prices should be post bonus prices.
Wrote e mails to SBIcap yesterday night after midnight when accounts were updated but in the morning no changes could be found.
It is really amazing that such companies dealing in monetary transactions can make such mistakes thereby leading to huge losses to the clients.
I had felt the same on earlier occasions too but could not prove in the absence of screenshots.

I) purchase of 100 sbi shares on 18th may, 2020 & informed to r. M.

Ii) payment of traded value of rs. 15779.63 @ 157.15 by cheque
No. 283964 through sbi, dhakuria and account no. [protected]
Was debited on 26th may, 2020 i. E. On t+5th day & informed to r. M.
Accordingly.

Iii) received a message from sbi cap securities on 28th may, 2020 that
Nse (Cm) : sbin sold 103 @ 158.75 from krja 025 and taken up the
Matter with r. M requesting for reconciliation of the fund.

Iv) sbi dhakuria branch has confirmed credit of rs. 15779.63 to sbi cap
Account no.[protected] on 26th may 2020 and sent a mail to sbi
Cap securities ltd 29th may, 2020 for immediate reconciliation of the
Fund & then sent the transaction details to relationship manager
Mrs. Baisakhi deb roy and regional head mr. Sandip dutta requesting
Them for proper reconciliation on 1st june, 2020 and again mailed
To deb roy on 2nd june, 2020.

V) mails were sent to level 1 : [protected]@sbicapsec.com level 2:
[protected]@sbicapsec.com & level 3 :[protected]@sbicapsec.com on
5th, 16th; 19th ; 22nd & 29th june, 2020. But received a vague reply on
22nd june, 2020 from [protected]@sbicapsec.com not touching the
Area of my grievances & without furnishing the clarification
Sought for and observed lack of prudent attempt for resolution of
Complaint and settlement of my claim for actual compensation
Of loss due to negligent act and raising the following points for
Resolution.
A) it reveals from the reply that credit takes only 1 or 2 days for
Updation in trading account but in the present case it has taken
10 (Ten) days for updation.

B) credit to your account on 26th may 2020 should have been updated
Within 28th may 2020 but updated on 4th june, 2020 is deliberate
Negligence on your part.

C) why it was done so and who is responsible for this negligent act
Resulting to dispute leading to non-allotment & liquidation of
Share plus penalty.

D) while you could sale 103 shares to comply your rms policy why
You did not purchase my booked share while fund was available in
Trading account.

E) while fund was credited to your account on 26th may, 2020,
Updation was your responsibility but without performing your
Own duty you have liquidated 103 shares from my portfolio credit
And imposed penalty in the name of rms policy ignoring the
Interest of the client is not a fair deal to the client.

It is evident that there can't be any such policy or law which
Provides unilateral protection to one party by damaging fundamental
Interest of another party.
Reluctant attitude and non-action in resolving the dispute
Even after the lapse of more than 45 is totally unfair on your part.

So, you are requested to resolve the complaint & claim by
Immediate settlement of my loss with penalty at the
Earliest without further delay.

Dear sir,
I have to change my broker what can i do?
Please suggest me

Dear sir,
I had purchased some shares before three months today i have opened my account & observed that some shares have been sell without my permission.
Please guide me on urgent basis to secure my shares.

Regards
Nanda anarase

My name - jitendra kumar employee code - osg1322 mob no-[protected]
I worked in sbi cap securities in my joing on may[protected]. I did 3 months work, i called my cluster manager jaipur circle to take my offer letter and did the massage but they did not give me the reply of my massage did not raise my call, so plz should take strick action against them so that no employee in the future has to face problems...

I, anil kumar j, an employee in hindustan aeronautics limited, corporate office, cubbon road, bangalore. I have opened demat account in sbi cap.
As you are aware, hal has entered share market, our company has issued ipo and allowed the demat agents to assist the hal employee to open the demat accounts to buy ipo. Sbi caps executives approached me and offered to open demat account "with no account opening charges" as told by the executives i. E. Ms. Bhagya (Mobile no. [protected]) & mr. Ramaiah (Mobile no. [protected]). On 22 mar 2018 i have been charged rs. 590/- towards opening of demat account and further rs. 35/- on 4 apr 2018 has been deducted towards to transfer-inb sbi caps.
As soon as the opening charges has been levied, i have intimated the same to the above executives. At the first instance, one of the executive said the above offer to hal employees was given before 6 months and the same offer was not applicable at the time of opening your demat account. Further, i discuss the matter with their team leader mr. Pratyush (Mobile no. [protected], [protected]) as well. Even he also said he will come back to me after discussing the issue with the above two executives. But no response from them till date. I have been vigorously following up since then, if i telecon them, there will be no response for my number. This shows the irresponsibility of the executives working in sbi cap. Also, the executives have misguided me in opening the demat account and taken the undue advantage.
Hence, i request you to look into the matter and take appropriate action to refund rs. 590/- + 35/- as told by your executives that "there is no demat account opening charges & other charges". The sb account statement in this regard is attached herewith for your kind reference.
Awaiting for your earliest reply.

Hello i have a account with sbi caps mg road branch (Bangalore) today i have called to the branch and asked to purchase 2000 shares of 'bglobal' at the price of 5.75rs and when i checked online the purchase was made at the 6rs so immediately i called the branch again but the lady denied and is telling that i have told to purchase at market rate so kindly please do check and do the needfull.
I even sent mail to escalation team but no response
Thanking you
Pinkesh jain
[protected]

This is to bring to your notice that I am not receiving the above subjected documents from SBICAP Securities Ltd.
Recently on 20th Feb., 2017 & again on 2nd March, 2017, i had traded in shares on your platform.
In the first mentioned instance i received the contract after 4-5 days as also account statement, ditto.
In the second instance i am yet to receive those inspite of today being 07-03-17,
Neither am i receiving SMS Messages for the trade concluded from your side.
NSE sends messages of trade concluded but that too, after 5-6 hours. After the market has closed.
Please do something at your end so that your customers are informed timely, as to the traded positions.
Thanking You, I remain,
Yours faithfully,
Kishore Hargovind Sonpal.

I have unlien 10050 rs on 17.3.2016 from my trading acount 91155493 but this amount not credited in my account till now. I also sent mail to sbicap complaint id but got no reply from them. here I am adding image of transaction.

Regards,
Sagar
91-[protected]

Dear Sir / Madam,

PLEASE PAY SOME ATTENTION....................


I am writing this mail beacuse I am not happy with your services
every time I am facing the problems in Marking or Unmarking funds from my demat (trading a/c.) to my main SBI saving account. yesterday and today also was trying to Unmark fund from my trading account to SBI account there where showing me available balance in trading account Rs. 7500 when I actually unmark Rs 5000 the error occurred its was showing massage "due to some technical problem transaction will not be proceed" at the same time my balance was deducted from my trading account now it was showing me only Rs 2500. I also check my SBI account amount hasn't transferred. I tried to call your customer care services but I was not able to talk to your Customer Care executive because line is not working.
Today since mornning I haved called Customer Care 4th Time out off which 2 times my phone was disconnected (already i was waiting for on line half an hour) an 2 times they have told me within 20 minutes funds will credited in my a/c. but as of now the problem remains the same..........



I am always facing this problem such as like difference in amount showing in trading account with compare to my SBI saving account.
error which I am getting very frequently which are as follows:-

1.Insufficient fund (when actually funds are available in account)
2.Unable to mark
3.transaction failure
4.amount exceed than available
5.negative balance etc.

when I called to your executive they are not satisfied at all every time they disconnect the line without solving my problem quires etc. i thing they purposefully disconnect the line or they are in very hurry
and especially your customer care dept. is not working on 24*7 due to this I have to face lots off problem during the off days or weekly off Sunday.


Today also I called three times to your customer care service executive but they haven't resolved my quires yet. out off three calls they have disconnected my line two time in B/w. the conversation.

during the trading order placing call I have experenced that your exectives are in hurry beacuse when i ask certain questions like what is current market price of particular stcok in BSE or NSE todays High Low price of stock they are not in moad or they get iretated by this question. some time they disconnect the line I dont know why they do this because of I am not High Net Worth Costomer or somthing else every time they pay very less attention to my quires.


I am very upset with this kind of services and actually I am planning to stop making trading from your trading platform.

sorry to say this but I am helpless......

Thanks & Regards,

Javed Patel
Client Id ESI 96668
Demat Account BO ID :- [protected]
email:- [protected]@yahoo.co.in