I have invested in the year 2006 in magnum tax gain schemes. i invested through my salary account with uti bank then. now i have changed my salary account to idbi bank. i wanted to redeem my investments in SBI MF. i submitted for change of bank details with a cancelled chq leaf of new bank i.e, idbi bank. but sbimf did not accept the same and rejected stating that a copy of the old bank chq also. is it not stupidity to ask for old bank chq copy??? my account with uti is closed automatically for being inoperative. i do not have chq leaf nor any statement now as they are more than 5 years old.
I invested the same way in kotak mutual funds. i submitted change of bank details with the new chq leaf. they have accepted and processed the same. they were not stupid to ask for old bank details.
why such harassessment by sbimf alone. what is the purpose of asking for old account statement., that too for a redemption of just less than Rs.50000/-??? it is simply irritating. why are the rules not the same??? what is amfi doing??? why can't they have same rules in all MFs???
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