I was holding 39 shares on ex date and dividend was to be [protected]@Rs.10/share but only Rs.70 was credited to my bank account and after rigorous follow up for a-month onlyRs.170 was credited to my ledger after a month.SBIcap is continuously asking me to follow up with the RTA which is useless since RTA pays on the basis of details submitted by the depository.
SBIcap is following illegal policy by retaining our dividends and the people working at the back office have little knowledge of law and keep on arguing unnecessarily.
I have to copy paste the relevant part of law but still they are not aware of the difference between the record date and ex date.
The ex-date or ex-dividend date is the trading date on (and after) which the dividend is not owed to a new buyer of the stock. The ex-date is one business day before the date of record. The date of record is the day on which the company checks its records to identify shareholders of the company.
People hired by SBIcap seem to be lacking in knowledge of law and need to be educated to do justice to their work.
I had submitted my holdings on ex date but still they are prolonging things unnecessarily.
The same is the case with grasim dividend.
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