On 4th June 2024, the financial system FAILED India's mutual fund investors. How?
1) Generally if you place MF order and transfer funds before cut-off (2.30 pm via broker), you get same day NAV.
2) On the day this mattered MOST (Nifty 6% down), the pipes broke! Thousands of investors got next day NAV - after the market rallied 3%!
3) Brokers, BSE and Razorpay - nobody is taking responsibility. Many pointing fingers at others.
4) Even ETF prices went haywire compared to their NAVs.
Who to complain to? Who will give compensation to MF investors? @PosteAnil and my story
On 4th June the markets had fallen. Many Retail Investors placed orders for their Mutual Funds before 3pm.
The NAV allotted to them should have been for 4th.
But, they got their Mutual Funds allotted based on NAV on 5th.
This robbed them of their rightful gains.
I thought this is some kind of anomaly. And, maybe it happened with a handful of people.
But, when I checked within my investment community: I was surprised to see the extent of this problem.
Just bringing to everyone's notice.
But, no one literally stands up for small guys.
@Nithin0dha@Nithin0dha but you are not able to handle it. What is my mistake in the below case. I have done transaction before 45 minutes cut off time on 4th june. If you make profit you take 100CR Salary if you do mistakes and losses incurred then you pass it on to customer. is this fare?
@Nithin0dha@Nithin0dha but you are not able to handle it. What is my mistake in the below case. I have done transaction before 45 minutes cut off time on 4th june. If you make profit you take 100CR Salary if you do mistakes and losses incurred then you pass it on to customer. is this fare?
@nikhilkamathcio Hi Nikhil, What is my mistake in the below case. I have done transaction before 45 minutes cut off time. If you make profit you take 100CR Salary if you do mistakes and losses incurred then you pass it on to customer. This is really not fare.
@Nithin0dha What is my mistake in this. Why I should bear the loss of 3% on 1.5 Lakh. You have partnered with Razor Pay. You have deducted money at 1.15 PM from my account before cut off time. Why liability should of your mistake should be bear by customer.
cc: @RBIsays
@abcapital@abcapital I have seen these message in your emails at least 100 times in my last 100 email conversations with your team. If you have some outcome then please share.
@Nithin0dha@zerodha Please allow Multiple Instant withdrawals. I was planning to book profit and move to MF. But only able to move 1 lakh. You have a put no limit on investing in a day. So why there is a limit on Withdrawal in a day.
@evernotehelps quite frustrting procss to avail offer whil purchasing a subs.on MacOs app whn clicked on 50% discnt buttn. buttn not wrking in app, I am clicking but not able to avail offer. Also while trying to avail thru web ur 25% offr, Adyean page it is asking full amount.