The negotiations...

I was privileged to play host to none other than Mr. Narendra Agarwal, Associate Vice President, of our illustrious Kotak Bank on Saturday, September 25, 2007. He already knew where my institute was located ("I come there every year for placements!") so found his way without difficulty. He listened to me patiently and promised to get back with a solution on Monday, September 27, 2007. His only question really was, "Do you want an overdraft or are you looking for compensation." I explained to him clearly that I was looking at compensation because as a result of Kotak's incompetence, I had lost the opportunity to invest in three very successful IPOs. He promised to get back with a resolution.

Come Monday, there was no reply. I sent him an email On Tuesday, I got a message at 23:00 that stated that he was in Rajkot so would get back on Wednesday. On Wednesday I sent them another email (see next post for the email) and on Friday finally was honored to meet him in person. He brought with him a letter from Kotak giving me their best offer.... hold your breath.....


90% of my security of Rs 61000 as an overdraft at 8% ....

I couldn't believe my ears.... their best offer was the same as their Branch Manager's !!!!

Honestly, its about time everybody banked with Mickey Mouse... he surely will deliver better service ....


Visit my blog http://kotakscam.blogspot.com to see how I was scammed by the Kotak Securities differential scrip pricing model