Groww app faces technical issue, users ask for compensation
IANS 23 January 2024
Several users of online financial services platform Groww on Tuesday experienced an hour-long outage, leaving them unable to login and some even asked for compensation.
While some of them demanded compensation, Groww posted on X that it was resolving a technical issue.
"We apologise for the inconvenience. Our team is addressing a technical issue and working to resolve it promptly,” the Bengaluru-based fintech startup said.
“Your patience is highly appreciated, and we'll be back to normal operations shortly. Thank you for your understanding,” it posted.
An affected user posted on X that he was trying to login into his account for the last 30 minutes, “but it's showing error”.
“I tried uninstalling and installing the app, clearly cache. I also tried to login in from chrome but still I'm unable to login,” the user commented. Another user said: "Unable to login in the Groww app! Never keep overnight positions, not coz Ur (your) trade can go wrong, but Ur (your) brokerage app can go down.”
Some users even asked to pay for the losses they suffered.
"Dear @groww, it's unfortunate that the app crashed...suffered loss...Kindly pay me the compensation," posted an affected user.
In October last year, Groww turned profitable as it registered Rs 1,277 crore in revenue in FY23, a huge 266 per cent surge.
The Zerodha rival reported a net profit of Rs 448.7 crore in FY23 against Rs 239 crore in net loss in the previous fiscal year.
The stock broking platform’s operating revenue more than tripled to reach Rs 1,277.8 crore in comparison to Rs 351 crore in FY22.
Earlier in October, Groww shot past the country’s leading discount brokerage company Zerodha in terms of the highest number of active investors.
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