Franklin Templeton Mutual Fund — not accepting delivery instruction slip (demat account)
Mumbai, Maharashtra, India
PaPatrick Dsouza on Jul 31, 2018
Today 31 july 2017, On filling my SIP application for my daughter, for a one year SIP, to her DEMAT account, the office at Dalamal chambers Nariman Point Mumbai 400021, refused to accept the cancelled Delivery instruction slip in original which I attached.
I mentioned that Reliance MF accepts this and HDFC MF does not even ask for and demat documents except what is written in the application.
they kept insisting on the DEMAT MASTER list.
this client Master List is a very important document having all details of the demat holder and if this is misused not only will the demat account be compromised but there could be frauds committed in my daughters bank account as well, as all details of mobile, birth-date, address and other details are listed .
this master list of DEMAT account should be discontinued given the security threats involved with this all these details given.
for all FI statement issued and send by email, due diligence is taken to open the attached email statement which is very good for security reasons.
you are requested not to given you Client Master list and such practice should be discontinued as conducted with HDFC MF.
even they do not wish that investors talk to their seniors to sort this out and therefore I am writing this to bring awareness.
I am a MF holder since the past 10 to 12 years
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