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Redemption/Dividend DespatchNo. of comments:53 P. RAVI KRISHNAN, Rourkela, Krishna Fincon Services On 24-Apr-2014

All are fully aware that many investors (those especially from small towns and rural areas) have not updated their bank mandates with core banking account numbers & NEFT codes. Nowadays, it is being observed that Redemption/Dividend Warrants are being dispatched by all RTAs & AMCs through Blue Dart Courier/some other couriers to investors. AMCS & RTAs are fully aware of courier's non-availability of services in small towns & rural areas. Recently, one of our investors have got redemption cheque from Cams after the gap of two weeks (much after our several reminders to AMC). Those investors who are residing in big towns are lucky but small towns & rural investors are facing lot of inconvenience. Hence warrants are being returned undelivered to RTAs/AMCS, who keep instruments pending with them till investors/IFAs follow up with RTAs/AMCs. Moreover, AMCs always hesitate to deliver/handover cheques to IFAs who have generated business from their investors. The best things for RTAs & AMCs is to send warrants through SPEED POST, who will reach parcels in every nook and corner of the country. May we, IFAs, request all RTAs & AMCs to despatch warrants through SPEED POST only to investors who are residing in small towns & rural areas...?

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Comments Posted
Hari Janardanan Nair ARN NO :ARN - 141214 Mumbai , 04 Apr 2018

Can u please confirm Mira bhayander, vasai road and virar comes under B15 cities as per SEBI guidelines?

syn gupta ARN NO :20548 kadapa, 30 Aug 2016

sir pl find out my problem my invester invest in fedility amc (l&t )amc change folio no 1388864/43 sri d rajendra prasad redemption and change of address apply but redemption amount credit in another person a/c no credited how it possible pl help me sir

D V Laxman Babu ARN NO :5752 Khammam-507003, 26 Oct 2014

AMC & RTA can now easily update new bank accounts easily they can take permission from RBI to know the modified account numbers and maximum effort should be done by IFA and AMC also should co-operate and be user friendly in modifying the account numbers. RTA & AMC should enquire the delivery point with courier before they handover to them for delivery. Last resort go for speed post it will be helpful to strengthen our postal department. Our total action must not be for helping postal department.

Dilip Bharti ARN NO :72250 dhanbad, 11 May 2014

your suggestion is good. I am agree with your views and request all RTA/AMC to despatch warrants through SPEED POST.

Manju Kumari ARN NO :0811 Jamshedpur, 08 May 2014

Very good suggestion.

VISHAL RASTOGI ARN NO :51920 Patna, 08 May 2014

There should be a debate within AMC & distributors regarding easing these problems to build stronger conviction between investors. As we put the picture or the fact too that thisis one of the best & easiest instrument for them, it should look alike too.

OM PRAKASH INANI ARN NO :0814 JAMSHEDPUR, 08 May 2014

Yes You are correct I am also facing the same problem if Bank A/c. No. is changed by my client. AMC Tacking 15 days for change of Bank A/c. O.P.INANI

Sanjay B ARN NO :Bluechip investments Kakinada, 07 May 2014

I totally agreed with many of you that speed post is the best option to send redemption/dividend warrant. My clients here is facing lot of problems as they are staying in outskirt of my town, where courier services are inaccessible. Sebi must implement rules amongst all amcs & rtas to despatch warrants through speed post to those places where courier services are inaccessible.

Anjaneya kumar.d.v.a.v ARN NO :ARN-12218 VISAKHAPATNAM, 06 May 2014

your suggestion is good. I am agree with your views and request all RTA/AMC to despatch warrants through SPEED POST.

Simply Invest ARN NO :81455 Kolkata, 03 May 2014

I totally agree. There is no standard rule and each AMC works on their unwritten set of rules. We try to adopt a different route when faced by such dilemma.

P. Ravi Krishnan ARN NO :Krishna fincon Services Rourkela, 03 May 2014

Thanks Mr. Deepak Agarwal for your comment.. We, IFAs are doing our best to serve our investors but the biggest problem is AMCs & RTAs are not cooperating with us at all.. It seems you are newly entrant in MF Industry and thats why and how you have not experienced any problem at all. Those investors who are with IFAs for more than 7 years are experiencing problems, which AMCs & RTAs never bother to solve.. During those periods many banks have not converted into core banking system. Like us, AMC & RTA guys are also honorable citizens of India. AMCs & RTAs must not trouble our investors, who don''t have old bank account proof. They are not abiding by rules of SEBI whose aim is to protect investors as every AMC have their own rules for updation of bank mandate.

DEEPAK AGARWAL ARN NO :70245 KOLKATA, 02 May 2014

THANKS FOR YOUR SO IMPORTANT CONCERN FOR ALL OUR BELOVED INVESTORS WHOSE REDEMPTION/DIVIDEND WARRANTS GETS LOST DUE TO NON AVAILABILITY OF NEFT / IFSC CODES / UPDATION OF ECS MANDATES ETC. ALL THE IFA,,S SHOULD TAKE CARE OF THEIR INDIVIDUAL INVESTORS/ CLIENTS OF ALL CATEGORY IRRESPECTIVE OF THE FACT THAT THEY BELONG TO RURAL, URBAN OR SMALLOR BIG TOWN TO UPDATE THEIR NEFT / IFSC CODES, ECS MANDATES . IT IS THE CODE OF CONDUCT FOR ALL THE ADVISORS. IFA TO FOLLOW AS PER THE RULES SET BY SEBI, AMFI ,RBI. WE AS A RESPECTED CITIZEN OF INDIA SHOULD ABIDE BY THE RULES OF LAW AS AND WHEN ROLED OUT BY THE INTERMEDIARIES.

SAUMIT NAYAK ARN NO :89918 sambalpur, 30 Apr 2014

The AMCs must send all correspondence through speed post, especially to the customers staying in rural areas.

bharat bagla ARN NO :0135 kolkata, 30 Apr 2014

as we are going ahead in time... the banking difficulties are taking us back to the draconian days of UTI... i would urge and recommend AMCs to adopt a more humane approach to this subject so that we can give the investor a better experience.

Amarjit Singh ARN NO :39176 Chandigarh , 29 Apr 2014

YES. I STRONGLY ENDORSE THE VIEWS. DIVIDEND WARRANTS SHOULD NECESSARILY BE REMITTED TO THE BANK ACCOUNTS DIRECTLY BY NEFT ETC. HOWEVER, WHEN NOT POSSIBLE SHOULD BE DESPATCHED BY SPEED POST AND NOT COURIER. INDIA IS WELL CONNECTED BY POST OFFICES. HOWEVER, INVESTORS SHOULD BE GIVEN A YEAR TO UPDATE BANK DETAILS AND THEN AMCs SHOULD STOP SENDING THE WARRANTS. IF WARRANTS ARE REQUIRED BY THE INVESTORS/ THEN A FEE BE CHARGED FROM SUCH INVESTORS or CHANGE THE PLAN FROM DIVIDEND PAYABLE TO GROWTH

HARI PRASAD GUPTA ARN NO :8723 durgapur, 29 Apr 2014

basically there is no control of sebi on amfi or amcs . Amc prepare the rules as they like it or suitable with them .there is no value of our constutional rights in our country.1st why not they are send through speed post, they are send only throgh courrier and courrier boy think that there are bus fair is more than Rs. 20/- then he put remark that locked or un tracable where as supreme court give direction to banks you search the depositor and paid the money along with interest .Why amc are not update the investors account, they think that this is their money and they will do as they like it

S.VENKATA RAMANI ARN NO :59008 MADRAS, 26 Apr 2014

YES. I STRONGLY ENDORSE THE VIEWS. DIVIDEND WARRANTS SHOULD NECESSARILY BE REMITTED TO THE BANK ACCOUNTS DIRECTLY BY NEFT ETC. HOWEVER, WHEN NOT POSSIBLE SHOULD BE DESPATCHED BY SPEED POST AND NOT COURIER. INDIA IS WELL CONNECTED BY POST OFFICES. HOWEVER, INVESTORS SHOULD BE GIVEN A YEAR TO UPDATE BANK DETAILS AND THEN AMCs SHOULD STOP SENDING THE WARRANTS. IF WARRANTS ARE REQUIRED BY THE INVESTORS/ THEN A FEE OF RS. 50 BE CHARGED FROM SUCH INVESTORS

SANTOSH BANSAL ARN NO :10911 sirganganagar, 26 Apr 2014

your suggestion is good. I am agree with your views and request all RTA/AMC to despatch warrants through SPEED POST. SANTOSH BANSAL

KRISHAN MURTHY ARN NO :74192 port blair, 26 Apr 2014

yes it correct that the AMC and the service provider were not intrested in handing over teh cheques to IFA"S WHO WERE bringing the business for them the cheques if they deliver to teh clients directly by the SPEED POST teh problem late receiving can be solved in the small towns and rural areas asin such areas courier services were not present like metros

N P MARU ARN NO :19332 BHIWANDI, 26 Apr 2014

I AGREE WITH MR. P. RAVI KRISHNAN. MOSTLY COURIER SERVICED DO NOT DISCLOSE THAT THEY HAVE NO SERVICES WITH PARTICULAR VILLAGE OR TOWN. THEY JUST SEND BACK THE COURIER WITH REMARK " ADDRESS NOT FOUND/INCOMPLETE ADDRESS". IN MY CITY, BHIWANDI, I HAVE RAISED SO MANY COMPLAINTS AGAINST BLUE DART COURIER BUT MAY BE DUE TO INTERNAL SETTINGS RTAs & AMCs DO NOT TAKE ANY ACTION.

R.Santhana Subramanian ARN NO :4299 chennai, 26 Apr 2014

I agree with the suggestion. RTAs and AMCs are well advised to send redemption/Dvd cheques thro Speed Post only.

M C KANNAN ARN NO :52008 Bangalore, 26 Apr 2014

One of my clients has invested in IDFC Equity fund,which has declared dividend in march2014.Even after complaining non receipt of dividend, cheque is yet to be received.The investor resides in Bangalore.

anita jandial ARN NO :21483 vadodara, 26 Apr 2014

I totally agree with you .I faced a similar problem last week.my investor was a lady of 90 years .The amc did not have over the cheque to my employee or representative of the investor and they themselves deposited the dividend cheque in the clients account and after 2 days gave photocopy of the deposit slip. In the entire procedure there was a delay of 3 weeks in client actually getting the dividend.

Sam Koshy ARN NO :5727 KOLLAM, 26 Apr 2014

Dear Friends, well constructive suggestions in the comments. Thank you all and Mr Ravi for getting this happen. --------- It has to be noticed that----1) AMCs are ordered with a 10 days time frame to make the redemption cheques delivered to the client''s account or clients hand. Compliance departments are very strict to fulfilling this and if they fail they attract wrath of SEBI. Fearing that AMCs try to make contracts with courier companies at a higher cost for delivering the Redemption Proceeds.----- 2)But, courier boys turn down everything because they have instant incentives from online product sales companies for delivering their product parcels to the customer & collect cash. Now-a-days the no. of online purchases are going up fast and the courier packets from AMCs find a corner of the courier offices/franchisees. Because there is compliance issue, AMCs tell courier companies to return all undelivered courier packets with reason for non delivering , before the completion of 10 days from despatch. Instead of doing a honest service courier boys return all packets back to sender with a equal daily number spread. AMCs thinks speed post will not deliver RP docs within 10 days. Also note that there may be a lot more back drop play which most of the IFAs are unable to notice. Keep on asking the AMCs operations people continuously to provide some options in the redemption slip , so that investors can choose from it at the time of submitting, RTAs also should update their software & consider the investors'' convenience with priority. Updating Bank a counts will help a lot. But still choice should be investor''s.

ABHISHEK AGRAWAL ARN NO :79374 kasimpur-202127, 25 Apr 2014

Yes, I am agree with Mr. Ravi, I am also facing the same problem thanks abhishek agrawal

C.SUBRAMANIAN ARN NO :43528 ERODE, 25 Apr 2014

ALL BANKS ARE HAVING NEFT AND MICR CODES. MUTUAL FUNDS DIVIDENDS AND REPURCHASE MUST BE GIVEN THROUGH RTGS AND NEFT. DIVEDENDS AND REDEMPTIONS MUST BE GIVEN THROUCH NEFT OR RTGS.

g.somasundaram ARN NO :16932 nagercoil, 25 Apr 2014

it is very useful

Ashok Randhave ARN NO :30884 DAUND-413801, 25 Apr 2014

Till today I am facing the said problem since I am in this business. Secondaly investor send redemption to cerrtain amcs refuses to give redemption. reason that mismatch of signature and send only letter to investor to submit banks attestation without sending proforma . They also not send proforma to. Ifa. Iam staying in rural area they never think about that and never give sufficient information guidance . No body bothers about because nobody are sure their job security. So timepass is there only.w

R VARADARAJAN ARN NO :32682 CHENNAI, 25 Apr 2014

I also had faced such difficulties when I was working in North Bengal in a Tea Estate for a couple of years. That was long time ago. Now, as per RBI directives all banks have IFSC codes and NEFT/RTGS facilities are available in all cases. The problem gets complicated because the change of account number and IFSC codes are not updated in the AMC''s records. It should be the responsibility of the IFAs to get this issued sorted out instead of making it an issue

Prakashnie ARN NO :0155 Chennai, 25 Apr 2014

when customer bank account is updated one, why it cant be credited directly to customer bank account. further at the time of redemption also they are not sending the credit for pending dividend amount but sending only the fund value of available units. why AMC or CAMS not acting?

dipak gandhi ARN NO :ARN--13814 BARODA, 25 Apr 2014

NOTHING NEW-IT HAS HAPPENED WITH ME 10-YRS BACK ALSO WITH BIRLA AMC.THEY ASKED MY RURAL INVESTOR TO APPLY FOR DUPLICATE RP WARRANT WHICH COSTS HIM APPROX-1000/- RS AND AFTER 3-4 MONTHS,INVESTOR RECD THE SAME WARRANT WHICH WAS REPORTED AS LOST THAT TOO WITHOUT REVALIDATION.AGAIN 15-DAYS WERE LOST IN THIS AND EVEN THOUGH CAMA MAN ASSURED ME TO ARRANGE FOR COMPANSATION FOR THIS DELAY-NOTHING WAS DONE -ULTIMATELY THAT CLIENT STOPPED INVESTING IN MF AT ALL..ALL THE TIME I INSISTED FOR RECEIPT ETC WHICH WAS DENIED AND EVEN I WAS ASKED FOR AUTHORITY LETTER ON BEHALF OF THE INVESTOR...I AM UNABLE TO FORGET THIS--SORRY--I HAVE NO HOPE NOW--EVEN ONE OF MY INVESTOR(RURAL WIDOW) IS STILL WAITING FOR RP WARRANT EVEN AFTER 5-YRS-NO RESULTS AT ALL--IT HAS BEEN INF TO ALL OFFICERS OF SBI MF FREQUENTLY-ANY BODY HEARING THIS NOW...PL CONTACT ME--@9427611361.

P. RAVI KRISHNAN ARN NO :Krishna Fincon Services Rourkela, 25 Apr 2014

Mr. Harishkumar C. Doshi...I agreed that all banks have NEFT & MICR Codes. But sometimes, many investors fail to update their bank mandates due to lack of old bank account proof, which majorities of AMCs are demanding along new bank account proof. Such unnecessary demands by AMCs are causing embarrassment to investors. Secondly, despite of furnishing full details of bank mandates by producing old and new bank account records, RTAs/AMCs fail to update NEFT Codes sometimes. Hence, investors have no other option but to get redemption/dividend in form of cheques. It is the responsibilities of AMCs/RTAs to reach redemption/dividend warrants safely & timely in investors'' hands instead of creating inconvenience to them. There is no way that Speed Post can create problems. In every place, be it in urban/semi-urban towns, far flung places & rural areas, there are post offices/sub-post offices, who identifies investors'' address easily than couriers. Couriers are creating countless problems they are concentrating mostly on T-15 and some B-15 Towns.. Mr. Anup Agarwal, we, IFAs are doing sincere jobs in updating bank mandates of our clients. But the problem is updating bank mandates by RTAs/AMCs is taking time i.e. seven to ten working days. If we submit redemption requests after seven to ten working days of wait, what will happen if market falls??

Hasmukh Sheth ARN NO :19275 Limbdi, 25 Apr 2014

In Small towns like Limbdi, It should be sent to Brokers only they will deliver immediately to their investors definately and can get new business also from the dividend. In Big city there is no possibility to given all investors, so that directly despatch to investors addres.

RENJITH P V ARN NO :58377 malappuram, 25 Apr 2014

this is real factor, speed post is the best option

HARISHKUMAR CHAMPAKLAL DOSHI ARN NO :ARN-64118 SURENDRANAGAR, 25 Apr 2014

NOW ALL THE BANKS ARE HAVING NEFT AND MICR CODES. ALL TYPES OF DIVIDENDS AND REDEMPTIONS MUST BE GIVEN THROUGH RTGS AND ECS. SPEED POST CAN ALSO CREATE PROBLEMS. REFUNDS, DIVIDENDS AND REDEMPTIONS MUST BE GIVEN THROUGH ECS OR NEFT. INVESTORS AND FUNDS MUST BE FORCED FOR IT.

VENKATARAMANI ARN NO :28059 COCHIN, 25 Apr 2014

Yes this problem persists with all amc''s especially out of the city area''s for example we have submitted a redemption request on 01.04.2014 for HSBC MUTUAL FUND and They have processed the cheque and sent by BLUE DART COURIER and the specified folio does not have core banking number n also client mobile number is not registered in this situation cover has been sent back to HSBC-CAMS division Chennai on 7th of this month. HSBC AMC Does not have local office in COCHIN and we have called chennai call centre to check up the status of the redemption cheque today and we were told that it has been kept pending due to non availability of phone number. Is it the way of handling investors money? After a long discussion with the person who came on the line accepted to send by speed post by today itself. Address of the investor is comes under Ernakulam District. As you mentiioned amc''s are waiting a call either from distributor or from investor to send the cheque again to investor''s address.

Hari ARN NO :86032 Bangalore, 25 Apr 2014

Very true. Speed post is the best option.

damaraju vlsv prasad ARN NO :62398 ongole, 25 Apr 2014

your suggestion mostwelcom.iam fully supportedyour kindly submit this suggestion to sebi to impliment immediately

HASMUKH DOONGARSHI GALA ARN NO :31509 MUMBAI, 25 Apr 2014

Yes. I agree with your suggetion that all the couriers i.e. Redemptions/Dividend warrants are to be despatched by SPEED POST. Secondly, Recently even after giving CORE Banking A/c No. and NEFT codes KOTAK MF had sent my mother''s i.e. PANBAI DOONGARSHI GALA''S Redemption Cheque by courier.

pravin ARN NO :25145 ahmedabad, 25 Apr 2014

SPEED POST IS VERY FAST RELIABLE AND GOVT OWNED ANSWERABLE AND TRACEABLE OF DOCUMENT BOOKED IN ALL PARTS OF COUNTRY AND COVERS ALMOST REMOTE PARTS.

pravin ARN NO :25145 ahmedabad, 25 Apr 2014

YES THIS IS TRUE. MY CLIENT DIVIDEND CHEQUE WAS KEPT WIH INDIA LEADING AMC FOR 2 YEARS IT WAS ONLY ON RECONCILATION THE SAME WAS NOTICED ANDAFTER ONE MONTH FOLLOW UP THE CHEQUE WAS DELIVERED. MY STRAIGHT QUESTION TO SEBI WHY THE AMC IS NOT INTERESTED IN LOCATING THE INVESTOR THROUGH TELEPHONE OR AGENT AND THEREBY FULFILLING THEIR DUTY TOWARDS INVESTORS. ON THE CONTRARY MY CLIENT HAD BAD IMPRESSION TOWARDS AMC. AMC EXISTS AND DOES BUSINESS BECAUSE INVESTORS ARE THERE . SEBI SHOULD TAKE STRICT ACTION AND LEVY PENALTIES ON AMC WHO ARE SO CARELESS IN FULFILLING THE ACTIVITIES

m.l. namdeo ARN NO :17457 bhopal, 25 Apr 2014

yes for small places speed post is preffered in my knowledge now postal service is cheaper , & reliable than any courier service mutual fund efficiency is lagging due to courier service , i always complain to every fund house for negligency of courier

HEMANT S SHAH ARN NO :36686 PUNE, 25 Apr 2014

SEBI / AMFI should formulate & make it mandatory for all AMC / RTA''s to use the National Postal system only for all & any correspondence with the investors / distributors. The Dept. of Posts should be advised that they should make the delivery of all AMC''s / RTA''s documents within 48 hours at the most from the time of deposit of documents / envelops with them & also take acknowledgement thereof for the records of the resp. dispatching authority. Hope this is implemented with immediate effect for the benefit of Investor, Distributor, AMC, RTA & none the least for the national carrier of posts.

DB DESAI ARN NO :0234 KUDAL, 25 Apr 2014

1. Big courier companies like Blue Dart might be charging high to the AMCs but they are far behind POST OFFICE regarding successful deliveries of the articles. As you said they just return. They not even call the investor. 2. Updating bank details is no doubt a better solution but in the meantime AMCs should ask for the preference of the investor or just send by SPEED POST. AMCs can ask the distributor who knows well about the proper mode of dispatch. 3. AMCs should keep the distributor aware/alert immediately on return of the instrument. So that corrective action can be taken faster. 4. AMCs should prepare a list of customers whose warrants are getting returned and provide it to the distributor so that he/she can get the address changed/bank details updated etc. by contacting the customer.

ATUL SHAH ARN NO :0225 AHMEDABAD, 25 Apr 2014

Very good suggestion--- I had wrote to many AMC executives for speed post delivery-- but AMCs are not at all in mood to think seriously.. 1)many courier companies have daily/ contract workers as delivery men who are not aware of locations-- hardly 20% knowledge compared to postmen.. (2)AMC people must contact ARN Holder for undelivered covers next day.. Why covers shall go back ? (3) AMC bosses trust courier boys but have view that ARN Holder shall act fraudulantly.. and so shall not give cheques ( a/c payee & printed with full bank a/c details of investor) to ARN holder, for onward submission to investor.. In many incidences of frauds, AMC STAFF HAD BEEN FOUND INVOLVED.. Had they stopped recruitments? The solution is to take care, not to penalise all... NO REPLY FROM AMC BOSSES SHALL LEAD TO BELIEF--- THAT THEY HAVE SOME INTEREST IN COURIER COMPANIES... Bosses, do opine..

Bhavesh J Shah ARN NO :ARN 0002 Ahmedabad, 25 Apr 2014

For Redemption also they should follow their T15 & B15 pattern. For T15 cities they should use courier of their choice where as for B15 cities they should use Speed Post option.

Anup Agarwal ARN NO :2874 Jaipur, 25 Apr 2014

Dear Ravi, Pl send a small sms to all your clients to update IFSC code / NEFT code in the folios. I think within 1 month 80-90% investors will give these because of ease of redmption. Your major problem will be solved. Or make a group on what''s app as it is free & send this information that account details need to be updated. When you will meet the clients you might get new business also. Regards, Anup Agarwal

SANTOSH ROY ARN NO :16655 MUMBAI, 25 Apr 2014

Good Suggestion. Also agree with Bhavesh J Shah of Ahmedabad. Further, AMCs on their own, scan the Master, find out which Banks are now Core Banking but Investor still have old numbers, send a suitable letter to them/email to them to generate response for updations. The Prepaid covers can be used for reply. A list of investors where Core Banking Updations are still not done can also be emailed to respective Distributor for follow-up.

KIRUTHIKA MADHUKR ARN NO :8186 Salem, 25 Apr 2014

Yes Mr.Ravi k is 100percent correct no of my investors have experienced the same from Birla MF All MFs should post through Indiapost rhzm97

e m sivasankaran ARN NO :56234 manjeri, 25 Apr 2014

A WELCOME SUGGESION .IN THE CASE COURIER SERVICES THEY WILL NOT AT DOOR STEP.THEY ALWAYS ASK YOU TO COLLECT MAIL FROM THEIR OFFICES.IN THE RURAL AREAS ONE HAS TO TRAVEL KILOMETERS TO COLLECT THE MAIL. THE ONLY OFFENSE THEY HAD COMMITTED IS THAT THEY HAVE INVESTED IN MUTUAL FUNDS.LET IT BY SPEED POST THOUGH IT MAY BE COSTLY

Bhavesh J Shah ARN NO :0002 Ahmedabad, 25 Apr 2014

For Redemption also they should follow their T15 & B15 pattern. For T15 cities they should use courier of their choice where as for B15 cities they should use Speed Post option.

Suresh Bhat ARN NO :ARN-51029 Bangalore, 25 Apr 2014

I completely agree to this. Speed post reaches out to the every corner of the country if not on the same day atleast in a week. This also would help to improve the business of our National Postal Service. I also feel that IFAs should get an SMS (since all AMCs would have contact number of the IFAs) about this dispatch so that the customer can be intimated to follow up with Postal department.

rahul kulkarni ARN NO :38875 virar-mumbai, 25 Apr 2014

Exactly. Even in mumbai we stay in far suburbs - virar. Bluedart is just a big name. But they don''t deliver in vasai taluka villages also. I am also facing the same problem. Although I am taking pain to update bank details of clients before redemption, If client needs money urgently, they(clients) are not ready to change bank first (7 working days dormant period). In this case company sends redemption cheques by couriers and it fails to deliver. I also request all AMCs to send redemption cheques by speed post only.

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