[Resolved]  Kotak Securities — irctc ipo wrong guidance

Address:

600071

Dear sir / madam,

My self, my wife and daughter had applied for irctc ipo through integrated avadi branch against my application no.80168213 / 80169662 / 80168433.

We were told to do the payment process by upi app only. We did so with upi-vijaya bank 2.0 version.

We got the payment notice for rs 1, 98, 400/- for each on 3rd oct 2019. But our bank say as per rbi norms we can't make the upi mandate more than 1, 00, 000/- per day.

But kotak claim that they got guidance from sebi as to process up to 2, 00, 000/- through bhim/upi app only. We tried our level best to participate in the ipo but despite of our several attempt to get clarity from integrated / kotak / npci no solution or clarification or process was given to make payment of rs 1, 98, 400 through upi app process.

My question is

1. If it possible to make payment mandate for rs 1, 98, 400/- or up to 2, 00, 000/- per day through bhim-upi app.

2. Is it possible to do above by psb, and in specific to vijaya bank.

3. What shall be remedy for my case.

4. There was several case like me in our branch and in chennai in particular with psb based upi app and process.

Waiting for your prompt response.

Regards
Ganesh babu k