Trading app Groww faces outage, users ask ‘who will pay for my losses’

Groww

Several users of the online trading platform Groww raised complaints about encountering technical issues on social media platforms on Tuesday morning.

Numerous users turned to social media platforms to express their grievances, claiming they faced difficulties logging into the app. Some faced issues with logging in, while others reported problems viewing their balances and executing orders.

“Groww balance not showing and order not executing,” one user wrote on X.

Issue is resolved- Groww

After acknowledging the issue, the fintech platform later confirmed that the platform is now functioning properly. “Thanks to your unwavering support and patience, the issue has been resolved now,” Groww said the issue is resolved now.

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Users demand compensation for ‘loss’

“You are my broker and I am not able to transact on your app. And unable to execute orders. What is going on? Who will pay for my losses? Don’t do this type of cheap manipulation. Very disgusting. Shameful,” a user wrote on X, claiming to have faced losses due to the glitch.

“We people lost our money due to a stock brokerage firm technical issues. Who Will compensate us? I lost my ₹19,700 money,” another user said.

Groww is the top stock brokerage in India. According to National Stock Exchange data, as of the end of September 2023, Groww had 66.3 lakh active investors, whereas Zerodha had 64.8 lakh.

READ HERE: Groww dethrones Zerodha as India’s largest stockbroker with 66.3 lakh clients

Groww says ‘technical issue’

As users complained about the glitch, the fintech firm acknowledged the issue. Without providing details of the issue, it said that they are actively addressing the technical glitch experienced by users.

“Hello! We apologize for the inconvenience. Our team is addressing a technical issue and working to resolve it promptly. Your patience is highly appreciated, and we’ll be back to normal operations shortly. Thank you for your understanding. Team Groww,” posted the company on X.

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Later, the issue was resolved by the trading platform, as users continued to ask about compensation for their claimed loss due to the glitch.

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