If you are from India then chances are that you already know about the recent Groww Fiasco. Groww is one of the largest Discount Brokers here in India and almost everyone has their account opened in Groww including myself but this Discount Broker got into some huge heat when a user tried to Redeem some Mutual Fund Units which he was investing from 2020 but they said that there was no Units to their name. This became a huge news when the user posted about this on Social Media and it took some serious traction all the way to Traditional Media Houses. Even though all of the things were resolved but there have been a lot of concerns as to how we could ensure that what we are investing actually makes it to the Mutual Fund Houses.
So these are a few points that everyone should be checking if you are investing in Mutual Funds using any Broker
There are essentially three points that you need to check if you are investing into Mutual Funds via any Broker.
For starters if you are investing into mutual funds then you should have these two apps installed in your smartphone which are myCAMS and KFinKart which shows you your actual Mutual Fund Unit Holdings.
Secondly you should always check your Monthly Consolidated reports of your Mutual Funds which is sent to your registered email id every single month.
Next is the fact that you should always confirm the mutual fund folio number with the mutual fund house once you are allotted a Folio number from your Broker.
So yeah these are some points that you should absolutely make sure are all right once you start your Investing Journey into Mutual Funds.
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