Union Bank Of India — demat department

Address:

MS Marg, Mumbai, Mumbai City, Maharashtra, 400029

Demat department
Ms marg mumbai
Union bank of india

My daughter has a demat a/c with union bank of india, mohd ali road br. And as advised by mr. Nirmal patel o[censored]bi, i complied with certain formalities.

Reply received from ubi, which is self-explanatory, is as under:

We have done thorough verification of documents provided by you for shifting and closure of bo – 381708 and found following irregularity in it:-

• there is only one holder in demat account with union bank of india but there are two holders in the destination dp i. E. Icici bank limited. For the process of shifting and closure, the bo at both the dp (Our dp and destination dp) and the sequence of bo holders (In case of multiple holders) has to be same. But in this case the number of bo is different hence it cannot be closed through shifting and closure.
• the account closure form 10.1 is not having sign of the account holder.


Regards,
Demat department
Ms marg mumbai
Union bank of india

I called up mr. Patel and told him that the reply was not customer friendly and educative. I requested him to guide me and help me so that the holdings in the demat a/c with ubi can be transferred to icici bank. He suggested to go to the home branch and obtain some dis form and comply with the requirements there.

No wonder psu’s are running in losses.

I reproduce from toi, mumbai today: no institution should insulate itself from improvement.

And as for ubi, there is a very big room for improvement!