Groww user says money debited but not invested, platform credits amount in 'good faith' - Hindustan Times
close_game
close_game

Groww user says money debited but not invested, platform credits amount in 'good faith'

Jun 24, 2024 10:49 AM IST

This prompted a clarification from the platform and refund of the customer's money as the user alleged that Groww generated a false folio number.

A Groww user claimed 'fraud' regarding deduction of money without actually being invested on social media. The customer alleged in a social media post that the Groww app did not make investment into a mutual fund scheme despite taking the money. This prompted a clarification from the platform and refund of the customer's money as the user alleged that Groww generated a false folio number which actually did not exist.

The customer alleged in a social media post that the Groww app did not make investment into a mutual fund scheme despite taking the money.
The customer alleged in a social media post that the Groww app did not make investment into a mutual fund scheme despite taking the money.

Read more: This Bengaluru startup fired 80% of its employees after failing to secure funding

The user also claimed that he found out about the money not having been invested when his sister tried to redeem the investment. The social media post was later deleted but screenshots of the same were shared by other X (formerly Twitter) users.

Read more: Markets tumble in early trade: Sensex down 140 points, Nifty at 23,450

In response to one of the posts, Groww said that “the customer's dashboard erroneously reflected a folio” but no transaction took place and no money was deducted from the customer's account. The company also said that it has credited the money back to the customer's account in ‘good faith’ and has asked for the bank statement showing the debit of the amount.

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Get latest updates on Petrol Price along with Gold Rate , Today Weather and Budget 2024 at Hindustan Times.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Saturday, July 13, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On