Sharekhan is ok as long as you don’t need to use their customer service or don’t need their research advice.  Their research calls are poor. I usually rely on Dalal Street journal research (which is good) and purchase through Sharekhan.

Their customer service is a big joke. First, you have to wait for 20 minutes on the phone to connect to customer service. I had to update my mailing address in D.P. account. Even after submitting the address change form in their office (had to take half day leave for this), it has not yet been updated. Its been 25 days now. I am not able to apply to IPOs as the refund cheque (yes, the amount for IPOs is refunded through cheque only) will go to my old address. The customer service chaps have the same thing to say everyday after waiting for 20 minutes "we have forwarded the request to the concerned department, sir".

I am unable to find any escalation channels on Sharekhan. As a result, I can’t talk to senior managers who can take action. Why can’t they provide escalation channels like PSUs? This is where private companies lack. In PSUs, you can easily approach higher authorities if you are not happy with their service.