Groww Pays INR 48 Lakh To Settle Case With SEBI Over Security Lapses

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SUMMARY

In its order dated May 14, SEBI alleged that Groww violated multiple norms of the securities contract regulations, stock brokers regulations, among others

SEBI further said that the investment tech startup was offering non-securities services such as UPI payments, lending and bill payments via its trading app, which could have exposed users to personal financial liability

This comes just a day after Groww paid INR 34.12 Lakh to SEBI to settle a separate case that alleged that the platform suffered a technical glitch, which…



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Groww Pays INR 48 Lakh To Settle Case With SEBI Over Security Lapses


SUMMARY

In its order dated May 14, SEBI alleged that Groww violated multiple norms of the securities contract regulations, stock brokers regulations, among others

SEBI further said that the investment tech startup was offering non-securities services such as UPI payments, lending and bill payments via its trading app, which could have exposed users to personal financial liability

This comes just a day after Groww paid INR 34.12 Lakh to SEBI to settle a separate case that alleged that the platform suffered a technical glitch, which…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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