Groww mutual fund issue: What investors can do to safeguard their investments
fraudulent activity related to deductions made from his account without any actual investments in a mutual fund scheme. Singh reported that despite the deduction, no investment was made, and a false folio number was generated, which did not exist. Following the complaint, Singh later removed his post and provided an update stating that the issue had been resolved and the deducted money had been refunded.
Singh commented, «The Resolution has happened and we have gotten our Refund/fund money back with the correct value so that's a good thing on the Groww team's part. (We have all the details around this).»
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View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-111422826»>He further elaborated on the incident, stating, «Lots of people suggested that while investing we should have checked with Cams, Fund house, etc. While all those are very good suggestions and everyone should definitely do that, but the investment was not done recently, it was way back in 2020, back then,
A. We were relatively new to investment, and such a miss can happen.
B. You invest in multiple funds, it is not always so intuitive to go and check every time for every transaction
C. It seems an easy thing to do in hindsight now but very different when something like this happens. Only the person facing will understand. Everyone else will just say the ideal things.”
The most important question is- how can investors check their investments after making transactions?
“For those who have invested in various
