Groww Clarifies Fraud Allegations, Reassures Customers of Investment Safety 

Read: Reverse Flip: Groww Moves Domicile From The USA To India Other issues that were clarified or debunked by the fintech platform include an allegation where it was said that the company kept its own money and didn’t forward it to the mutual fund company. Refuting the allegation, the fintech platform said, “Specific to the customer query, back in 2020, their SIP was linked to the exchange as a biller, where the money went directly from the bank of the customer to the exchange. In this instance, the amount that the customer was claiming was not received by BSE, which is what has been confirmed by BSE to us. There were also claims that Groww created a fake folio for a customer and later deleted it. The fintech platform said, “The customer was seeing a different entry, which was the folio details of another transaction. This folio did not belong to that customer. There was no debit from the customer’s account. When the issue was flagged to us, we reconciled the entry, found the issue with the duplicate Order ID handling, and revised the customer’s folio.” 

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