Greetings!
I am Vikas, third year student of commerce from Mumbai. These days’ people are complaining about banks and relationship managers, who constantly chase and call their customers to buy some or the other financial product. In fact, even if you have a loyal customer of one bank, other relation ship managers calls to sell their products, where they exactly know how much have you invested and what you portfolio is.
One of my aunt, recently applied for SBI bonds. After few days she received a call from a person posing as SBI official and asked few questions related to the bonds. He also asked her e-mail id. Later, she was shocked to know that he had sent her details of other financial product.
Also, relationship managers from ICICI bank called her and informed her she has received some bonds even before it was reflected in her demat account. When she asked, how he got know her demat account details, the RM replied saying that, “Since I am our RM, I can see”
Such instances are so shocking. Can anyone help me out to know, whether these RMs really have the authority to see their clients profiles and personal details? If yes, this is such a breach of privacy.
In case of SBI bonds, where complaint can be launched? Is it the registrar or the transferor?
Do these relationship mangers of one bank sell their data to another bank?
Does anyone have any such similar expericne? Please share.
There are few articles on the net, about the shocking tales where customers were harassed in buying some or the other products? (http://www.moneylife.in/article/wake-up-call-for-regulators/13262.html)
Please reply.