No money deducted from customer, no transaction took place: Groww on fraud claim [Video]

Popular trading platform Groww on Monday clarified that contrary to a customer’s claim that she was unable to redeem a mutual fund investment, the customer never made the said investment and no money was deducted from her bank account.

Groww came under backlash on social media after a customer’s relative alleged in a social media post (now deleted) that her sister faced fraud after investing via the financial services platform.

The Groww user had alleged that the app took the money but never actually invested it in the mutual fundmutual fundmutual fund.

According to the financial services firm, “a social media post by a customer’s relative is being shared, which is spreading misinformation”.

“We’d like to clear the air about the said claim. A Growwcustomer reported on June 19, 2024, that she was unable to redeem a Mutual Fund Investment. Upon investigation, we found that the customer’s account was showing …