I have invested some amount in the cash manager fund of the birla sunlife mutual fund. the good thing about this scheme is that the principal is 100 % protected and i can get my amount within 2 days of my request and there is no entry or exit loads in this fund. for the ease of my transactions i have opted for the electronic payment mode of my redemption and i have also clearly mentioned the same in the application forms. on 19th of july i have made a redemption request for Rs. 10000 from my folio and after 2 working days i was waiting for my amount to be credited in my bank account. when i dont get my amount in the 3rd working day then i called up the call centre to inquire abount the amount when i was surprised to know that they have registered my mode of payment as the cheque payment mode. i asked them to rectify the mode of redemption in my folio for which they told me that it will take 4 working days to rectify the same. i told them that being it is the mistake of the company and that it is to be rectified instantly than they denied me and said that it will go according to the process. i also asked them about my cheque of Rs. 10000 but i was more surprised to know that they have not even despatched the cheque till 25th of july. my redemption is been done as per the NAV of 19th of july and my cheque has been despatched on 25th of july that means that the amount difference of 6 days has to be borne by me... i want the necessary actions to be taken against the company so that no one else faces the problem again...
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