Kotak Securities — Day light loot by Kotak Mahindra

Address:

New Delhi, Delhi

Dear Sir/Madam, I had just recently(a week a ago) opened a new trinity account with Kotak Mahindra Bank. I was told that I would be charged Rs. 750 as initial account opening charges but after account opening and trading only for 2 days I realized their transaction charges are exorbitant and me or nobody else would be able to earn anything with such heavy duty charges for example I had bought one stock for Rs. 1010 but after charges which I thought would cost me around 1012 or around that but to my surprise it costed me 1036, I bought another( Ansal Buildwell) stock at 102 thought it would profit me as I had sold it at 108.8 same day but thanks to charges from Kotak I stood at a loss of Rs 22 on this stock too. I thought I would be at around no profit no loss as was showing in my cash statement too on[protected] but I realized it today when I checked my cash statement for[protected] I stood at a loss of around 600 Rs and called their customer care who told that your proceeds take 2 or 3 days to get rounded off to my account if some third party calculates my statement it would be clear that I have not suffered such a loss but I have been fooled by putting extraordinary charges by Kotak Mahindra Bank. This is what is called broad day light cheat or robbery we people read or hear in news papers about robbery in night and think how daring are these people who challenge law and order of our country but the biggest thieves such as these Kotak Mahindra Bank and Secutrities commit robbery in broad day light and in fact use laws of our country as tools to exploit and traumatize citizen of India. I am not over emphasizing but think about other customers who would have been looted they have impact all over our country what if I had been trading on days I had not traded or I had used all money in my account, the loot for them would have been bigger and for other customers the condition could be such. If such charges are ethical than there are no chances that anyone would like to open an account with such banking firms. I was not made to know the exact charges of this bank and I have been cheated shouldn't there be an upper limit of such charges. May be my voice or effort would go unheard because in our country every big corporate is a looter nobody cares about customers but someday these broad day light cheaters are going to harm our country very badly these people are even less considerate than our British rulers. Thanks & regards Vikram Singh Nagar Mob. [protected] vk.[protected]@gmail.com