Groww NAV scam

[SunnyM]

But going to Various AMC website to buy funds is a hassle too.

Exactly what I was thinking. I want peace of mind, one stop solution. I guess most people want that too .

 

[ramirami]

You can fight all these middleman portals and have this uncertainty at the back of your mind about which day's NAV you'll get. Or you can do what I settled on and purchase from AMC sites and use these middlemen only for portfolio overview. With most AMC sites, you can purchase right till 3:00 pm and get same day NAV. For me, that gives more peace of mind than buying from groww / coin /mfuonline / mfcentral.

 

[Zacobite]

I heard many cases about groww; people were not getting the actual day NAV for various reasons investing through groww.
Today I have faced the same. Today I placed a lumpsum order in Parag Parikh Flexi cap of Rs 10000 in 12.59pm. I have an active sip on that folio and did lump sump many times before. So no issue with kyc there .

But today, somehow,they order was not processed by the exchange according to groww.
So , I have lost today's NAV.
I have raised a complain in customer care but got the generic answer like; mutual fund cut off timing, mf exchange to send the amount to mutual fund bank account blah blah.
But in the end, I the Investor have to bear all the losses.

I am thinking of switching to MF central to avoid such issues in future.

You can share your valuable advice/past experience about the similar incident hereView attachment 64330

its not a scam... its their tech. what will groww gain from this.. nothing!!! they just have bad workflows

 

[Azharuddin]

I faced this scam many times in Paytm money wherein if you place order for multiple funds, they don't process on the same day..I will suggest invest through kuvera

 

[Zacobite]

I faced this scam many times in Paytm money wherein if you place order for multiple funds, they don't process on the same day..I will suggest invest through kuvera

why is this a scam? what will the intermediary gain??

 

[Azharuddin]

why is this a scam? what will the intermediary gain??

Probably they are holding the money for a day and sending the order next day

 

[Zacobite]

Probably they are holding the money for a day and sending the order next day

naah.. its debited by the banks directly... its not via

 

[msankadi]

I invest directly through the bank website in mf.. For past 8 years... Used icici hdfc and Aditya Birla... Never faced any issues with txn decline or nav mismatch

 

[Azharuddin]

naah.. its debited by the banks directly... its not via

Still customer is at loss...

 

[Zacobite]

Still customer is at loss...

not really.. if it is a delay by a day it cab be up or down... SIP is always up and down.. This is only a big issue in lump sum where u want same day NAV..

 

[Azharuddin]

not really.. if it is a delay by a day it cab be up or down... SIP is always up and down.. This is only a big issue in lump sum where u want same day NAV..

Yes lumpsum only!
And not to forget this year they inflated the investment amount in SFT in AIS for which many received warning message from IT department and because of that I recived a notice too