Groww user alleges 'fraud', says app shows mutual fund investment but can't redeem, company denies; what are lessons for MF investors?
Published by Economic Times
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, explained how a duplicate order ID led the platform to show units the fund house never issued, and suggested investors check their holdings through a monthly consolidated account statement from the registrar rather than relying on the app.
More of Abhishek's views on mutual funds
ET Wealth examines a June 2024 social media complaint that the Groww app showed a mutual fund holding the investor could not redeem, and the platform's response that no money had been debited and a duplicated order ID caused the wrong display. Experts explain how execution-only platforms, exchanges and registrars process transactions, and suggest checking holdings through consolidated account statements. It includes comments from Abhishek Kumar.
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Groww user alleges 'fraud', says app shows mutual fund investment but can't redeem, company denies; what are lessons for MF investors?
