‘Who will pay for our losses?’ Users outraged as trading platform Groww crashes

Groww, a prominent financial services platform in India, encountered a significant backlash from users due to technical glitches causing login issues during intraday trading. Users faced several hours of inability to access the app, hampering their ability to execute trades. The problem, which started in the morning, was reportedly resolved around 11:30 am, according to netizens.

Despite the resolution, many users expressed dissatisfaction and frustration on the social media platform X (formerly Twitter). The main concern was the financial losses incurred due to the inability to trade during the glitch. One user emphasized the urgency, mentioning both profit and capital losses due to the app malfunction.

Groww initially responded to the complaints with an apology, stating that their team was diligently working to address the technical issue and requesting patience from users. However, this response didn’t ease the concerns of many users, who continued to share their grievances and screenshots of the login error on social media.

In various posts, users also tagged the market regulator Securities and Exchange Board of India (SEBI), seeking its intervention and action against Groww for the losses they experienced.

Groww, a leading stock brokerage in India, acknowledged the glitch and reassured users that they were actively working to rectify the technical issues. However, specific details about the cause of the problem or potential compensation for affected users were not provided. This situation underscores the challenges faced by fintech firms in managing technical reliability and customer satisfaction, especially in the high-stakes environment of stock trading.

It’s worth noting that Groww also ceased offering the option to invest in US stocks for new users, impacting its user base as it asked those users to either migrate or remove their investments.