I have had a long running love-hate relationship with ICICIDirect for half a decade now. More hate than love. Their platform is closely integrated with the ICICI Bank online banking platform and that makes things very convenient. Of course I haven’t looked at what others like Share Khan & Reliance Money are doing now in [...]
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Opinions expressed here are entirely my own and do not reflect the position of my employer or any other entity. The views and opinions expressed by visitors to this blog are theirs and do not necessarily reflect mine.
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ICICIDirect is know for it’s shady practices. They are at it again with the SEBI ruling on Mutual Fund Entry Loads which comes in to effect today (August 1, 2009). I will show you how they are out to confuse people and how their entire approach is crafted to benefit the rich customers at the [...] See the screen shot below for my most eagerly awaited Mutual Fund Account Statement Notice the NAV & the Price in INR columns. The last transaction dated 14/1/2008 is the sweetest. No Entry Load! I have already canceled most of my ICICIDirect SIPs. So far I have been able to take care of [...] The new direct sales no-load criteria for Mutual Funds in India came into effect on January 4, 2008. Under this investors are not charged an entry load if they purchase directly from the AMC. The operative word is “direct”. I have seen a lot of discussion on this issue on our internal mailing lists at [...] |
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