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Groww NAV scam

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.
 
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
 
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
 
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??
 
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
 
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
 
oh I didnt wrote here na groww has just ****%% my MF investments

On 29 Nov I did lumpsum payments in 3 funds , payment was done at 12:45 PM so accordingly NAV should have been of the same day 29NOV Friday but they gave me NAV of Monday 2nd Dec.
till 1st dec it showed in app that NAV date is of 29th Nov but on 3rd they sent a mail regarding order completion that NAV is of 2nd Dec.

Have complained against Groww and all 3 AMC to SEBI on scores portal awaiting reply now.
29TH NOV WAS A WORKING DAY + PAYMENT WAS WELL MADE BEFORE 3PM CUTOFF TIME.


WhatsApp Image 2024-12-05 at 2.18.11 PM.webp WhatsApp Image 2024-12-03 at 7.32.48 PM.webp
 
oh I didnt wrote here na groww has just ****%% my MF investments

On 29 Nov I did lumpsum payments in 3 funds , payment was done at 12:45 PM so accordingly NAV should have been of the same day 29NOV Friday but they gave me NAV of Monday 2nd Dec.
till 1st dec it showed in app that NAV date is of 29th Nov but on 3rd they sent a mail regarding order completion that NAV is of 2nd Dec.

Have complained against Groww and all 3 AMC to SEBI on scores portal awaiting reply now.
29TH NOV WAS A WORKING DAY + PAYMENT WAS WELL MADE BEFORE 3PM CUTOFF TIME.


View attachment 76476View attachment 76477
ET Money also having similar issues. after app update.. quite a disaster.. Folio values incorrect by a lot
 
oh I didnt wrote here na groww has just ****%% my MF investments

On 29 Nov I did lumpsum payments in 3 funds , payment was done at 12:45 PM so accordingly NAV should have been of the same day 29NOV Friday but they gave me NAV of Monday 2nd Dec.
till 1st dec it showed in app that NAV date is of 29th Nov but on 3rd they sent a mail regarding order completion that NAV is of 2nd Dec.

Have complained against Groww and all 3 AMC to SEBI on scores portal awaiting reply now.
29TH NOV WAS A WORKING DAY + PAYMENT WAS WELL MADE BEFORE 3PM CUTOFF TIME.


View attachment 76476View attachment 76477
There are 5 nodal banks for getting same day NAV even if you do before cut-off time i.e., SBI/HDFC/ICICI/KOTAK/AXIS.
If you do transaction other than these 5 banks, you get next day NAV even if the transaction is done within cut-off time and this is same across all the brokers even when done on MF Central. Basically, this is the condition of BSE MF itself.
 
There are 5 nodal banks for getting same day NAV even if you do before cut-off time i.e., SBI/HDFC/ICICI/KOTAK/AXIS.
UPI transaction was through AXIS

now parag replied but still groww hasnt filed a report with SEBI till now even after 5 days of complain generally in other complains groww or any broker replies within 24 hrs, maybe they are thinking of a reply how to confuse us more..



now see parag reply

WhatsApp Image 2024-12-05 at 6.19.06 PM.webp


Screenshot 2024-12-05 at 6.17.09 PM.webp


parag flexi is a non liquid scheme upi cutoff remains 2:30 for it

parag threw this on BSE have complained against BSE now
 
UPI transaction was through AXIS

now parag replied but still groww hasnt filed a report with SEBI till now even after 5 days of complain generally in other complains groww or any broker replies within 24 hrs, maybe they are thinking of a reply how to confuse us more..



now see parag reply

View attachment 76731


View attachment 76732


parag flexi is a non liquid scheme upi cutoff remains 2:30 for it

parag threw this on BSE have complained against BSE now
You are probably not aware, but everyone (other brokers) faced this issue. BSE is the culprit, not Groww.

They faced technical issues on their end. Watch how your complaint gets closed in few days.
 
There is no scam...do not create unnecessary panic ...mf transactions units are credited on t, t+1 or t+2 cycle based on cut off time and type of mf.

You invested on 8th and ur nav date on ss is 8th only...

Before investing, learn how it works
 
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