wealthforumtv

I would like to draw attention of all stakeholder on the operation issue of request of change of bank mandate and seek attention on my grievance: If any client submit request for change of bank mandate to CAMS and if CAMS found that name is not printed on the cheque or statement is not within 3 months or photocopy of passbook is not attested by the bank or for any other reasons , CAMS immediately reject the request which is not at all a good practice at all to the best of my belief. That CAMS should have asked from the client only statement within 3 months or photocopy of passbook attested by the bank or should have asked the original passbook to verify across the counter instead of rejecting under intimation to distributor concerned. It would have been much appreciated or will be good practice if the same have been put on hold instead of rejecting like that of KYC verification process. After submitting the requisite papers the same should be made good immediately. By rejecting the bank mandate request , client loose the precious time and again they have to go/start from the beginning. I have gone through the horrible experience at CAMS Patna and I feel to seek the views of my fellow distributors on the issue.