[Resolved]  SBI Mutual Funds — Pathetic service

Address:

Delhi

Hi,

I made an investment of Rs.40,000 in SBI Mutual Fund's Magnum Taxgain scheme on 10th Jaunary, 2011 at SBI Bank Branch in Rohini Sector-7, Delhi. More than a month has passed since the day I made the investment that I have not received any kind of acknowledgment from the your company about my investment. I just have a receipt with the Application# B5681504, signed by some Shinal Mittal. I have called up at the Investor Service center number of Nehru place Branch and they told me they cannot locate my application. At the same time they are laying the onus on me to track my investment, saying since you made the investment at SBI Bank, you need to track it on your own. The executive pretty rude and said he is not afraid of any actions against his behavior (tells about the miss management at SBI Mutual Fund). I, then, contacted the Rohini Sector-7 Branch of SBI. There I was told that the lady who took my Application has gone on a long leave and they cannot track my investment. I was then given a # of some Shreya at SBI, Barakhamba Branch. The lady listened to my query, took details and never got backed. I tried to call up on the same #. But there is no response. If this is the way an application is handeled, I wonder how my funds would be handled. I no longer wish to make investments in SBI's Mutual Fund Schemes. I would request you to send back my check and acknowledge the cancellation of my investments. Its the most pathetic experience I have had anywhere and I would never like to repeat that.


Regards,
Rahul Jindal