Groww

Financial services platform Groww has launched a new feature that will enable users to exit highly loss-making trades in futures and options (F&O), cofounder and chief executive officer Lalit Keshre said.About 15% of Groww’s overall customers are into derivatives trading, Keshre said on social media platform Twitter.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Professional Certificate in Product…

Food and grocery delivery platform Swiggy has initiated a fresh round of layoffs ahead of an expected public offering. This and more in today’s ETtech Top 5.Also in this letter:■ Zomato, Stripe secure payment aggregator nod■ Can GIFT-IFSC exchanges aid startups? ■ Khazanah in talks to lead Oyo’s funding roundSwiggy to lay off 6% of workforce ahead of IPO Swiggy CEO Sriharsha MajetyIPO-bound Swiggy is set to trim its workforce by 350-400 jobs, sources have told ET. The firm, which competes in a…

Stock broking platform Groww has stopped offering investments in US stocks through its app. The company recently communicated the same to its users too.A person in the know said that Groww had stopped investments in the US stocks over a year back, but some users who were onboarded in 2023 continued to use the platform. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM KozhikodeIIMK Senior Management…

Online financial services platform Groww went down on Tuesday morning, leaving users frustrated. The platform has become popular for offering a wide range of products, including investments, trading, loans, and payments. Its app comes in handy when you wish to mutual funds, Indian stocks, ETFs, IPOs, SIPs, and more. Courtesy of this wide range of features, Groww has attracted a large user base, most of whom were left disappointed when the platform stopped working. Groww app downTaking to X (formerly Twitter), Groww users…

Fintech startups Groww, AngelOne and PhonePe are emerging as top distributors of mutual fund products, adding lakhs of new systematic investment plans (SIPs) every month. They drew in nearly half the new SIPs opened in November 2023, according to data from asset management companies shared exclusively with ET.The Association of Mutual Funds of India (AMFI) noted that over 3 million new SIPs were created in November 2023, of which around 1.3 million were opened on fintech platforms, according to industry estimates. Groww…

Image Source : FILE New UPI rules implemented With the new year 2024, Unified Payments Interface (UPI) changed some of its rules and it has gone through some key changes in the New Year for improved online banking and payment transaction experiences. New UPI rule - About As per the IANS report, the National Payments Corporation of India (NPCI) have instructed…

Digital payments facility Unified Payments Interface (UPI) for secondary market trading is set to go live from January 1, the National Payments Corporation of India (NPCI) said in a release on Friday.This facility is similar to Asba (applications supported by blocked amount), used for blocking funds and undertaking multiple debits, popular among investors to purchase shares during the IPO process. It will now be available for secondary market trading as well.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Direct mutual fund platforms finally have a route to generate revenue as the markets regulator has come out with guidelines for a new set of execution-only platforms (EOPs), but they are not sure how to monetise their offerings.Players like Groww, Zerodha’s Coin, ETMoney and others who were offering direct mutual funds to their users for free will now be able to charge for their services. But the question these fintechs are grappling with is, who do they charge for their services? Especially given the direct market was…

Broking startups that disrupted the traditional world of stock trading and investments are looking to diversify their revenue base. Just like other fintechs expanding from their core business to complimentary opportunities, brokers are entering into lending and payments.Two major challenger brands in the broking ecosystem, Groww and Upstox, are doubling down on their credit business, according to people in the know. The ultimate idea is to retain the customers coming to the platform to invest.Mumbai-based Upstox is…

Nextbillion Technology, which runs investment platform Groww, has completed the acquisition of the mutual fund business of Indiabulls Housing Finance (IBHFL) for Rs 175.6 crore after receiving the necessary approvals, IBHFL said in a filing with exchanges. This comes almost two years after Groww inked a definitive agreement in May 2021 to acquire the mutual fund business of IBHFL’s subsidiaries Indiabulls Asset Management Company Ltd (IAMCL) and Indiabulls Trustee Company Ltd (the trustee of IAMCL).The sale of Indiabulls…