Groww CEO Lalit Keshare apologizes to consumers after a technical issue with the trading app

Groww CEO Lalit Keshare apologizes to consumers after a technical issue with the trading app

Numerous users have complained about the Grow app on social media, claiming that they were having trouble signing in.

Groww's creator and CEO, Lalit Keshare, apologized on social media a day after many customers reported technical difficulties with the site.

Numerous consumers have complained about the Grow app on social media, claiming that they were having trouble signing in. A few clients also mentioned having trouble processing orders and seeing their balance.

On April 6, 2023, the Keshre social media network had a significant event. And they are all still painful and linger like scars. But it hurts too much this time.

As usual, we have identified the underlying issue, fixed it, and will get back to you shortly. In summary, one of our services failed and we were unable to promptly restore it. We sincerely apologize.

Keshare said that the business might have communicated more effectively and pro-actively with consumers in the long X post.

We very regret that we were unable to meet your expectations of us. We'll be more aggressive going ahead in providing more information, both good and bad. Keshare stated

We are aware that the danger is increased now that there are millions of serious merchants on Groww and that even a brief outage might negatively affect our clients. We have the biggest technical staff committed to creating a reliable system, and we are still making significant investments in it. The CEO said, "We are also developing a new backup system that may serve as a safety net in such unfavorable situations.

Keshre refuted rumors that Groww was discontinuing his investments in US equities and said that clients would still be able to make purchases of mutual funds and exchange-traded funds (ETFs) priced in Indian rupees.

"The only people who won't be allowed to do so are customers who pay money (USD) to purchase equities directly on US markets. Additionally, we'll make sure that if they choose to relocate, nobody has to deal with any hardship or extra expenses. Additionally, we have made the decision to halt new USD investments while continuing to support any holdings or sells that already occur. Grow would never abandon a client, according to Keshare.

Groww surpassed Zerodha to become the nation's biggest brokerage in October of last year. According to a Moneycontrol article using NSE statistics, it had 66.3 lakh active consumers as opposed to Zerodha's 64.8 lakh.