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Tata Mutual Fund — unethical business

Hi,

I did online investment in tata mutual fund, it first asked me to do ekyc which i did; and then it allowed me to go for sip of rs. 2000/- per week.

It debited my bank account rs. 2000/- towards sip and two days later it said transaction is rejected with a reason it exceeds rs 50, 000/- per annum. But amount is not credited back to my bank account. When called their customer care, they made me to wait for 45 minutes on the call, yet they did not confirm when they will credit the amount back to my bank account. They do not have any answer!!! Why they debited my account? No answer;
When it is rejected, why amount is not credited to bank account? No answer

If it is more than 50k per annum, why first of all sip was accepted? Subsequently why my bank account was debited? What was the need for it when you know that it crosses 50k? No answer!!!

I have no other option now but to take up this as complaint to sebi

I have never seen such worst service from any mutual fund in my life!

Now you decide whether you should opt for it

Regards

Prashant shanbhag
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