Necessary Rip-off Alert: Groww Warns Customers |

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Necessary Rip-off Alert: Groww Warns Customers |

On-line monetary companies platform Groww has an essential rip-off alert for its subscribers. In a put up from its official account on X, previously Twitter, the inventory broking platform has warned customers about an account that’s making an attempt to impersonate the corporate. The account with the username @groww_support_ on X is claimed to be making an attempt to rip-off folks by claiming to be a help functionary of Groww.The Groww’s put up to warn customers can be titled ‘Rip-off Alert’.
The tweet clearly tells customers that Groww has just one official account on X and that the identical has a verified golden badge. Customers have been cautioned towards every other account claiming to be of Groww or linked to Groww.
The large ‘Rip-off Alert’
This is what the tweet says. “”Rip-off Alert: An account with the username @groww_support_ is impersonating us and making an attempt to rip-off folks. Please don’t interact with this account. Our ONLY official X (previously Twitter) account is @_groww with the verified golden badge. We’ve already taken motion towards the impersonator. Your security is our high precedence. Please keep cautious and report any suspicious exercise to us. We’re right here to assist.”
Groww turned worthwhile in October 2023. The corporate registered Rs 1,277 crore in income in fiscal yr 2023, a 266 per cent surge. The Zerodha rival reported a internet revenue of Rs 448.7 crore in FY23 towards Rs 239 crore in internet loss within the earlier fiscal yr.
The inventory broking platform’s working income greater than tripled to succeed in Rs 1,277.8 crore compared to Rs 351 crore in FY22. Earlier in October, Groww shot previous the nation’s main low cost brokerage firm Zerodha by way of the best variety of energetic traders.
No US shares on Groww
Earlier this week, Groww requested a few of its customers to cease shopping for extra US shares by means of the platform by the tip of February. “Please word that recent funding of USD stability and shopping for of US Shares can be discontinued from twenty seventh of February,” Groww reportedly mentioned in an electronic mail despatched to its customers.
Groww is claimed to have stopped offering the choice to spend money on US shares for brand new customers nearly a yr in the past. The platform has round 1,500 – 2,000 customers who proceed to carry US shares by means of the platform.
“When you do not need to promote your US Inventory holdings, we can be comfortable to help you in migrating to a different platform or with withdrawals for an prolonged interval,” the agency informed its customers.