RKSV Review?

#21
I too got the email but I thought it is related to new platform, so did not read full email.

New platform does not seem usable at all. They don't even show the series no for NCD. Like for Shriram transport they would just show SRTRANSFIN and you can just keep guess which series is this? They don't know series detail anywhere, neither in market watch, order list, trade list etc. As they are deprecating the older version on 21st August, I think I won't have any option but to stop trading using Upstox
 
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Alchemist

Administrator
Staff member
#22
I too got the email but I thought it is related to new platform, so did not read full email.

New platform does not seem usable at all. They don't even show the series no for NCD. Like for Shriram transport they would just show SRTRANSFIN and you can just keep guess which series is this? They don't know series detail anywhere, neither in market watch, order list, trade list etc. As they are deprecating the older version on 21st August, I think I won't have any option but to stop trading using Upstox
What software are you using and version?

I still see the series names.
 
#23
What software are you using and version?

I still see the series names.
I login on the website with https://pro.upstox.com/.

Right now I mostly use older version at https://classic-pro.upstox.com/ as that is much better than newer version https://pro.upstox.com/. But they had plans to remove older version by 21st August. It is still working but very likely they may stop supporting older version.

Is there any better version which does not require you to install any software. As I mostly use my office laptop for trading, I cant install any software. i can install in personal computer and that would not be too comfortable for me.
 
#24
I raised complaint 1 with NSE and complaint 2 with SEBI. However SEBI forwarded that complaint to NSE. There was hearing for both complaints on 3rd September and the complaint is rejected.

Here is the full text of decision

ISSUES RAISED BY THE PARTIES
Issues Raised by the Complainant:
The complainant was personally present for the meeting
• The complainant had twin complaint 1) Regarding charging of Stamp duty on bond transactions
and 2) Time delay in release of lien marked for trading back into his Bank account.
• As per the complainant broker charged stamp duty on bond transactions which is not
applicable. He had pointed this out on many occasion. In one instance the same was manually
credited to his account. This seems to be a system error that needs to be corrected. He cited 5
more such instances in his plaint and informed that the loss on this account is Rs. 33.69
• The complainant has 3 in 1 account with RKSV and a bank account with IndusInd Bank. This
arrangement provides a facility, where I can mark lien on my funds, in IndusInd bank and if
there is any due to the broker, then the broker would debit the bank account for the same amount
and release the remaining amount by end of day. On two occasions involving funds to the tune
of Rs 10,00,000/- on 26th June 2020 in the first and 15th July 2020 Rs 5,00,000/- in the second,
the complainant noted there was a time delay of 2 days in release of the lein, causing him
mental agony, loss of interest and opportunity loss.
• The complainant claimed Rs 1,232.88 for interest loss calculated @18% for the delay and Rs
100,000/- in compensation for the loss of opportunity.


Responses of the Trading Member to the issues raised by the Complainant:
Trading member was represented by XXXX(intentionally removed name while posting this), Legal and Compliance.
• Regarding charging of Stamp duty on bond transactions she confirmed that the claimed amount
has been credited to complainant account.
• Regarding, time delay in release of lien marked for trading back into his Bank account, TM
mentioned that there was a system glitch which is being corrected. In the first instance it took
two days because of intervening Saturday and Sunday.
• As for Opportunity loss she pleaded sorry and informed that the same cannot be admitted.


ORDER OF THE GRC:
Observations of GRC:
TM confirmed that the stamp duty charges has been credited manually. Time delay in removal of lien
was a Technical glitch. TMs representative affirmed that this will be rectified soon. As regards
payment of opportunity loss it was clarified to the complainant that the extant regulations do not
provide for payment of any consequential or notional loss.
Orders given by GRC:
In view of the above observation, No claim is allowed and the matter stands dismissed.
Admissible Claim: NIL
“In view of the Covid -19 situation, parties and Exchange to act upon the soft copy of this order. A
signed copy of the order will be provided subsequently to the parties, if requested.”
 
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