Groww app down during market hours, users demand compensation
What's the story
Groww, a popular online stock trading platform, is facing technical issues, leaving users unable to log in for intraday trading. On opening the app, the page showed the message "Oops! Something went wrong." At 10:59am, when NewsBytes checked, the app as well as the website was still down. Frustrated users took to X (formerly Twitter) to voice their concerns about potential losses and demand compensation for being unable to excute trades.
Details
Users share disappointment and consider alternatives
Many users criticized the app's recurring technical glitches and questioned its dependability. One user remarked, "Paying hefty broker fees for a service that's often inaccessible is unacceptable. It's time to revamp the terms and conditions to prioritize users over profit. We deserve better!" Another user contemplated switching platforms, stating, "Bloody @_groww app this is unacceptable. Who will pay my loses? Time to switch to Angel one, #groww."
Twitter Post
'Who's going to pay for losses?'
@_groww Groww is Down!
— parth (@imeanparth) January 23, 2024
App is down, website is down!
There is literally loss in my portfolio just because of this today.
Who is going to pay me for this?
Twitter Post
A user is contemplating switching platforms
Uninstalling @_groww and switching back to some other client if you don't refund the losses incurred to me.@NSEIndia @BSEIndia #groww
— आशय (@ashaysant) January 23, 2024
What Next?
Groww team responds to complaints
The Groww team addressed the issue on X, apologizing for the inconvenience and assuring users that they were working to resolve the problem. Their statement read, "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." This incident comes after a similar outage reported on January 13, 2024.
Insights
Groww is India's leading brokerage
In October 2023, Groww emerged as the leading brokerage in India, surpassing Zerodha in the number of active investors. According to the latest data, Groww has 76 lakh active clients, outpacing Zerodha, which has 67.3 lakh clients. Groww has also secured approval from the Securities and Exchange Board of India (SEBI) to introduce its very first index fund, the Groww Nifty Total Markets Index Fund, through a new fund offering (NFO).