Infrastructure Development Finance Company [IDFC] — Interest Warrant Revalidation
Z
zackart18
Jul 12, 2021
My folio # is IDD0035715. I was unable to encash my interest warrants for the year 2018, 2019 & 2020. I got in touch with einward.ris & IG infra team on 28.04.2021 and they asked me send a bunch of documents, application & forms which I did and it was received by the Kfintech office in Hyderabad on 09.06.2021. As per the communication on 15.06.2021 my news bank details were updated on 15.06.2021 and the interest warrants was sent to the bank for revalidation. Everything was fine until here and my problem starts from here. It has been nearly 1 month since then and neither has the interest been credited to my bank account and neither do I get any update from any of your team. Each time I have communicated with the einward or IG infra team they give me a standard reply that it is under process and I need to wait for the procedural period. But no one answers how long is that procedural period. I have even visited your bank branch is Kasba but was told they don't have any access to the bonds and they will escalate the matter to the concerned team and till date I don't have any update on that escalation too. I have become like a football within all your teams without getting any proper resolution. As far as I know that every bank has a defined TAT or ETA for such process but unfortunately till today I am not aware of what that TAT or ETA is. Never expected this from a bank like IDFC. I feel like I am being harrassed inspite of being an investor. With all these things happening I am seriously contemplating of complaining to RBI or SEBI. Need immediate help as your bank needs to understand that in this pandemic situation and income not easy to come through these small amounts matter a lot to families.
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