Karvy Broking Banned

Should be carefull with brokers nowadays
This is sad for karvy clients

karvy client are shifting aggrevisely to full service broker , in my house back we have a karvy stock broking office , today i seen all customer want to close the account in the branch every body busy withdrawing funds and closing account in karvy, Karvy lose Trust may be they will shutdown ,

we need SEBI want to take such action is welcome to safeguard client hard earned money , lesson for other broker

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From now onwards SEBI will take immediate action aginst broker if any small fraud is seen , the client complaint will take immediate action from nowonwards from SEBI

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How can i close my karvy account and transfer my shares to zerodha. I don’t want to sell them.

you can transfer through DSLIP

“KSBL did not report the DP account no. 11458979, named KARVY STOCK BROKING LTD (BSE) in the filings made by it from January, 2019 to August, 2019. The said DP account was observed to be categorised as Beneficiary Client and was opened on December 20, 2000”

This is from the SEBI order… our regulatory mechanism did not pick no reporting of a broking firm for 8 months… that is a big surprise for me on their robustness …

nowadays i hope my strategy to make profit in stock market , but i have fear how my money will safe with broker thats a million dollar question for me now , other wise people will move to safeguard his money to other broker even not mind about brokergae charge ( broker name hidden)


This is an interesting article to read …

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This might provoke SEBI to reduce the leverage provided in both cash and derivatives segment…

Because of MIS, CO, BO, its not only clients who gets greedy and get into trouble, now brokers have also joined.

Now, we don’t know how many skeletons will be out of the cupboard

@Augustus_Athigaman , i think there is no NO 1 and 2 company its not a matter , so we need to wake up , any small bad news where we invest our money , just we need to take immediate action thats all i know now , these idiots are giving sleepless night for retailers now , let see what SEBI will take further action

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Well either that, or wait for large brokerage players from USA to come over and start businesses here.

Thats where full service banks backed icicidirect comes clean…it is like a govt treasury and each of our penny is accounted for…

Profit or loss directly credited to savings bank account on t plus two day basis

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ya you seen his client is increasing only even high brokerage i think very big people are stick with icici direct because they dont matter about brokerage , they matter his money want to safe

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SEBI want to ban propitiate trade for broker then only its will come to end this type of default from broker side

Hai all SEBI want to implement a OTP system in demate debit transtation

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Brokers hide many thing from us.
Brokers donot prefer FD’s or Bank Gurantee as Margin want CASH as MARGIN why?
FD & BG are as liquid as Demat securities.

It’s not acceptable stupid excuse for this from all Broker’s.



I heard we can check our share details on some SEBI website? (To make sure whether it shows the same in broker dashboard)

What website is that?

you can check in CDSL and NSDL where the broker have depositories account

You can even download a PDF of Demat statement of holding from CDSL,
which is good for further reference.