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Karvy Consumer Complaints

Incorporated in 1990, Karvy Stock Broking Ltd (KSBL) is part of KARVY Group; one of India's leading financial services company provides stock broking and research advisory services. They offer Customized investment solutions to corporate, institutions and individual investors through its wide network of offices. Using their combine account facility one can trade in Equities, Derivatives, Currency or invest in IPOs, Mutual funds or NCDs under one roof. Based in Hyderabad they are among one ...

Complaint against Karvy Broker

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Karvy brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Karvy customers. The Karvy consumer complaints report analyzes the Karvy online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Karvy broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Karvy complaint no. report also provides Karvy’s number of active clients. This shows the growth of the broker year on year.

Karvy Consumer Complaints

Exchange	Financial Year	Number of Clients	Total Complaints
NSE	2020-21	215,272	1352
BSE	2019-20	36,503	458
NSE	2019-20	243,256	7443
BSE	2018-19	39,838	36
NSE	2018-19	268,272	241
BSE	2017-18	77,702	50
NSE	2017-18	244,753	225
BSE	2016-17	52,545	25
NSE	2016-17	181,384	150
BSE	2015-16	37,334	38
NSE	2015-16	166,923	191
BSE	2014-15	26,284	31
NSE	2014-15	172,489	173
BSE	2013-14	518,521	29
NSE	2013-14	126,308	113
BSE	2012-13	464,143	40
NSE	2012-13	555,326	114
BSE	2011-12	427,708	77
NSE	2011-12	580,994	142

Karvy complaint at NSE

	2020-21	2019-20	2018-19
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year
No. of active clients	215272	243256	268272
No. of complaints received *	1352	7443	241
Resolved through the exchange	27	825	230
Non actionable **	2	50	0
Advised / Opted for arbitration	0	3	0
Pending for redressal with exchange	1323	6565	11
No. of arbitration filed by clients		6	10
Decided by arbitrators in favour of the clients		5	10
Decided by the arbitrators		4	7
Pending for redressal with arbitrators		1	0
% of No. of complaints as against No. of active clients	0.62	3.05	0.08
% of complaints resolved as against complaints received	2.14	11.79	95.43

Karvy complaint at BSE

	2019-20	2018-19	2017-18
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year	1030514	859806	756160
No. of active clients	36503	39838	77702
No. of complaints received *	458	36	50
Resolved through the exchange	77	32	48
Non actionable **	302	0	0
Advised / Opted for arbitration	4	4	3
Pending for redressal with exchange	381	4	4
No. of arbitration filed by clients	0	0	0
Decided by arbitrators in favour of the clients	0	0	0
Decided by the arbitrators	0	0	0
Pending for redressal with arbitrators	0	0	0
% of No. of complaints as against No. of active clients	1.25	0.09	0.06
% of complaints resolved as against complaints received	16.81	88.89	96

Note:

* Including against its sub brokers, authorised persons, employees, etc.
** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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131 Comments

131. Amit Kumar Bhaduri Jun 24, 2020 18:17

karvy has not refunded my money. I am following up with Karvy since October 2019. And all they say is that the team is looking into it and will refund. After the locked down in mar2020. Hyderabad Office remains closed and when I followed up in June 2020 again, no Phone no is active till now, I want to escalate this matter to the highiest autority in Karvy.

130. Roopa Bansode Jun 23, 2020 20:28

MY name is Roopa. After sending several reminders. Couriered original cheque.. karvy has not refunded my money. I am following up with Karvy since October 2019. And all they say is that the team is looking into it and will refund. After the locked down in mar2020. I forgot to follow up and when i followed up in June 2020 again, they want me to send the details right from the scratch. I want to escalate this mattre to the highiest autority in Karvy.

129. h s shashidhara Jun 19, 2020 11:17

My client code is 1212060 I request karvy head office look into the matter of irresponsible and irregular activities form you people, even after requesting to transfer of shares you people are not responsible to respond, it is hard earned money I have invested and many irregularities in the account I want immediate action from karvy head office to rectify and transfer of shares because hence forth no point in believing.

128. Sudhir Bansal Jun 18, 2020 23:17

There is no customer care response,no any solution even several e mail complaints to official of Karvy. And also no response from local office Meerut. My payout issue is pending since 21 nov. 19, they are not transferred my money into my account. Worst trading company. Now what should I do?

127. M J Baby Jun 15, 2020 12:28

MY account no is 494476. I have requested several times for getting my payout. No action has been taken so far. Please guide further procedures

126. Nitin Shirsat Jun 14, 2020 12:32

My mother, Mrs. Vidya Shirsat sold 424 shares of Reliance industries on 29.10.2019. Her DPID- IN300394, Trading ID-A4401117, CLIENTID- 80288292
Till to date , she has not received a single rupee from Karvy. Kindly look into the matter at the earliest as she needs money for her medical treatment( suffering from brain tumour)

125. Nitesh Jun 11, 2020 23:30

my client ID is 19495374 karvy not refunding my mony and demat and trading A/c accesses not permitted, I don't know what to do.

124. Neeraj Agrawal Jun 10, 2020 12:32

My client code is 164876. Karvy has not honoured my repeated payout request . Everytime it's assured that the payout will be honoured soon. Now I'm not able to login to my karvy trade account.

123. Jhunarani sahu Jun 8, 2020 15:17

My name is jhunarani sahu, heaving client I'd -80258789, with karvy. Applied to transfer my shares to another demat a/c along back before in month of January 2020,3 months passed, not yet done. Customer care not responding at all

122. rakesh May 28, 2020 14:21

my client code is 3262584 and after again and again request they are not releasing my payout.Now i will complaint on SCORE portal hope for the best

121. Pankaj Yadav May 25, 2020 16:34

My client code is 528856, they are not paying out
my amount Rs 69000 to my bank account, dont know when they will pay it

120. abhishek May 10, 2020 22:47

my client code 4143005 they are not refunding my money Rs 43450

119. Indira Prakash Menon May 8, 2020 16:18

My client code is 2134798. I sold 80 shares of Reliance Industries Limited on 13th November 2019 for Rs,1,17,045 and requested for a payout of the amount on the next day. Till now they have not paid the amount, I have been sending them messages and as per their reply reply dated 14th March 2020 they had informed the payout will be effected in the next week. However, till now I have not received the amount.

118. M Sindhura Apr 28, 2020 16:36

I don't know Karvy is banned from trading so I transferred Rs90000/- on 25 th March 2020.unable to trade I did payout of Rs 90000/- on 25 th March 2020.But I did not receive amount even today 28 April 2020.even head office people told me to complaint to SEBI.As if they dont even care.

117. R Hussain Apr 16, 2020 00:10

my trading code 3040579 karvy is not bothered to give payout amount of Rs21195 inspite of multiple emails and every time they are giving false assurance that they are going to pay soon.There online trading platform is not working for more than 1 week

116. MAHESH BODKE Apr 15, 2020 09:54

My Client code is A45037775. I am unable to login and my payout amount is 9900/- but no response from Karvy

115. Vinod Apr 13, 2020 23:25

My name is vinod shivoor i did not got payout amount 77303 plz fefund to my bank account

114. Satyendra Apr 10, 2020 16:52

Karvy:
There service is very bad they don't response and also there online account management is very bad. Now day If I'm trying to open the account, it's showing no licence and because of that I'm not able to sell or buy.
Don't know how to fix that, also they are not responding, I tried to call, even I raised request but no response, don't at the end who will be responsible for the loss.

113. anil Apr 10, 2020 15:33

Have 2 accounts in karvy and not able to transfer money which is around 1lakh.
please suggest

112. Ramesh Chandra Mishra Apr 5, 2020 06:02

My client gode is 632379. There is a credit balance of Rs 122060.00 since last 8 months. Inspire of several requests, Karvy Stock Broking Limited has not paid my money. It appears to be a fraudulent activity by this company. Kindly take action and arrange to my my money quickly.

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Karvy Consumer Complaints

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Karvy Consumer Complaints

Karvy complaint at NSE

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131 Comments

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