Terms and Conditions

Last updated on 18th July 2024

These terms of use (“Terms and Conditions”) mandate the terms on which the users (“You” or “Your” or “User”) access and register on the website www.groww.in and/or mobile application ‘Groww’ referred to as, “the Platform” owned and operated by Billionbrains Garage Ventures Private Limited (BGV). BGV shall also allow its associates, group and subsidiary companies, together referred to as “Company” or “We” or “Us” to use the Platform as per their requirements.

Please read the Terms of Use and Privacy Policy carefully before registering on the Platform or accessing any material, information through the Platform. The Company retains an unconditional right to modify or amend this Terms of Use without any requirement to notify You of the same. You can determine when this Terms of Use was last modified by referring to the “Last Updated” legend above. It shall be Your responsibility to check this Terms of Use periodically for changes. Accordingly, please continue to review the Terms whenever accessing or using the Platform. Your use of the Platform as defined above, after the posting of modifications to the Terms will constitute your acceptance of the Terms, as modified. Your use of the Platform on continuous basis shall signify Your confirmation to the changes and the agreement to be legally bound by the same.

Platform Services:

The group, affiliate and associate companies are Nextbillion Technology Pvt Ltd, Neobillion Fintech Pvt Ltd, Finvantage Investment Adviser Private Limited, Groww Creditserv Technology Private Limited among others, who shall be together referred to as “Company” or “We” or “Us” as mentioned above to use the Platform to offer their products and services to You, under applicable terms and conditions specified on Our Platform.

You acknowledge that the Platform allows You to avail the services directly from the Company and/or its group entities and affiliates including their products and services and facilitate communication with them for such services, and other related information. The Company hereby grants You, a limited, non-exclusive, non-transferable, royalty free license to use the Platform for the purposes of availing the services from the Company and its group entities and affiliates , collectively hereinafter referred to as Platform Services.

You hereby give Your consent to Us (including Groww Invest Tech Private Limited, Groww CreditServ Technology Private Limited) and other regulated entities of the Company to fetch and access Your credit information from Credit Information Companies in order to understand/assess Your creditworthiness, for carrying out internal evaluation and necessary due diligence, as may be required for product/service offerings or otherwise.

You agree and give Your consent that We may share Your Personal Information with our group/associate/affiliate companies to comply with regulatory requirement or restriction applicable to Us and/or to our group/associate/affiliate companies.

You agree and give Your consent that till the time the loan obtained through platform is fully repaid by You, You will not be able to add money in the Groww balance for trading in the securities market.

You agree and give us your consent to fetch your PAN number from the Credit Bureaus, based on your verified mobile number

Nextbillion Technology Private Limited (Nextbillion) (now known as Groww Invest Tech Private Limited):

Use of the Platform for facilitating subscription and redemption of mutual fund units and stocks by transmitting money and instructions to the relevant asset management company (“AMCs”), as per Your instructions;
Use of the Platform for trading in stock markets (Cash and FNO)
maintain a record of Your personal information and financial transactions in a secure and confidential manner. However, When you express your interest in availing the services of any of our group/associates/affiliates companies, then based on your consent, Our regulated entity may share your KYC and other related information with associated regulated entity.

Nextbillion is an AMFI registered mutual fund distributor, Stock Broker and Depository Participant. It is hereby clarified that the Company is not rendering the services of mutual fund, and it is merely providing a platform to its users, Nextbillion to facilitate the transaction of investment in mutual funds and stocks. If You buy a regular mutual fund on the Platform, Nextbillion receives commissions from AMCs, details of which have been provided on the Platform and the default mutual funds available on the Platform are direct mutual funds, whether or not Nextbillion receives any commissions. Please note that Nextbillion only facilitates the sale of direct mutual funds through the Platform and will not be liable in any manner with respect to the mutual fund units allotted to You by the AMC.

Nextbillion does not, and is not obliged to, offer all mutual fund schemes for investment or as the case may be, all kind of investment advisory services. By limiting the number of schemes on the Platform, neither the Company nor Nextbillion makes any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied in respect of such mutual fund schemes. You hereby agree and acknowledge that the data and information provided on the Platform does not constitute advice by Nextbillion of any nature whatsoever, and all the investments made in Your account will be merely at Your discretion and shall not be relied upon by You while making investment decisions in mutual funds and stocks and You shall be solely responsible for any investment decisions and for the purchase of any mutual funds and investments/trading in stocks on the Platform. In no event shall the Company and/or Nextbillion and/or any of its Affiliates, group, associate and subsidiary companies be held liable by You for any loss or damage that may cause or arise from or in relation to these Terms of Use and/or due to use of this Platform or due to investments made using this Platform.

As part of the Platform Services provided to You, after availing such services, You agree to provide honest feedback/review about the concerned Platform Service, if required by the Company, Nextbillion.

In case of any dissatisfaction with the Platform Services, You shall first file a formal complaint with the customer service of the Company and/or Nextbillion, as may be applicable, prior to pursuing any other recourse. The complaints can be lodged at support@groww.in or grievances@groww.in and upon lodging a complaint You agree to provide complete support to the customer service team with such reasonable information as may be sought by them from You alongwith necessary documents, emails, screenshots as available with You forming part of the said complaint. The decision of the Company and/ or Nextbillion, as may be applicable, on the complaints shall be final and You agree to be bound by the same.

You understand and agree that Profit & Loss report and/or other specific reports would be provided by Nextbillion based on Your request and would not be considered as the basis for computing Your tax liability. You further understand and agree that You shall consult an independent tax advisor to verify Profit & Loss report and/or other specific reports and Nextbillion will not be liable for determining Your tax liability or any loss or damage caused to You arising out of any decisions/actions arising out of the Profit & Loss report and/or other specific reports.

You hereby give Your consent to Nextbillion to download Your CKYC record from Central KYC Records Registry.

Use of the Platform

Subject to compliance with the Terms of Use, the Company hereby grants You a non-exclusive, limited privilege to access and use this Platform. You agree to use the Platform only: (a) for purposes that are permitted by the Terms of Use; and (b) in accordance with any applicable law, regulation or generally accepted practices or guidelines.

You agree that You shall not copy, reproduce, sell, redistribute, publish, enter into a database, display, perform, modify, alter, transmit, license, create derivatives from, transfer or in any way exploit any part of any information, content, materials, services available from or through the Platform, except that You may download the Platform for Your own personal, internal use and non-commercial use.
You agree that You will not use the Platform in any manner or engage in any activity that may damage, disable or impair or adversely affect the use of the Platform or interfere with any other users’ use, legal rights, or enjoyment of the Platform. Further, You agree not to remove any text, copyright or other proprietary notices contained in the content downloaded from the Platform.
Further, You undertake not to:
defame, abuse, harass, threaten or otherwise violate the legal rights of others;
publish, post, upload, distribute or disseminate any inappropriate, profane, defamatory, infringing, obscene, indecent or unlawful topic, name, material or information;
copy, republish, post, display, translate, transmit, reproduce or distribute any content on the Platform through any medium without obtaining the necessary authorization from the Company;
conduct or forward surveys, contests, pyramid schemes or chain letters;
upload or distribute files that contain software or other material protected by applicable intellectual property laws unless You own or control the rights thereto or have received all necessary consents;
upload or distribute files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of the Platform or another’s computer;
engage in any activity that interferes with or disrupts access to the Platform (or the servers and networks which are connected to the Platform);
attempt to gain unauthorized access to any portion or feature of the Platform, any other systems or networks connected to the Platform, to any of the Company’s server, or through the Platform, by hacking, password mining or any other illegitimate means;
probe, scan or test the vulnerability of the Platform or any network connected to the Platform, nor breach the security or authentication measures on the Platform or any network connected to the Platform. You may not reverse look-up, trace or seek to trace any information on any other User, of or visitor to, the Platform, to its source, or exploit the Platform or information made available or offered by or through the Platform, in any way whether or not the purpose is to reveal any information, including but not limited to personal identification information, other than Your own information, as provided on the Platform;
disrupt or interfere with the security of, or otherwise cause harm to, the Platform, systems resources, accounts, passwords, servers or networks connected to or accessible through the Platform or any affiliated or linked sites;
collect or store data about other Users in connection with the prohibited conduct and activities;
use any device or software to interfere or attempt to interfere with the proper working of the Platform or any transaction being conducted on the Platform, or with any other person’s use of the Platform;
use the Platform or any material or content for any purpose that is unlawful or prohibited by these Terms of Use, or to solicit the performance of any illegal activity or other activity which infringes the rights of the Company or other third parties;
falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or source of software or other material contained in a file that is uploaded;
violate any applicable laws or regulations for the time being in force within or outside India or anyone’s right to privacy or personality;
violate the Terms of Use contained herein or elsewhere; and
reverse engineer, modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information or software obtained from the Platform.
Shall not use Company’s and/or its affiliates, group and subsidiary companies registration details, and/or any certificates and/or any general details thereby inducing public at large to conduct business, trading activities with You. Additionally, You shall ensure that You shall not undertake any selling/advisory activities, or carry out any transactions and/or mis-sell the products/services offered by the User in the secondary market under the name and title of the Company, its associates, affiliates group and subsidiary companies.

The Company has the right to suspend, block or deactivate Your trading and/or demat account as a risk management measure and/or if reasonably believes that any regulatory or statutory enquiry/investigation etc might arise due to trades/transactions/actions done by You and You will not question the same.

Intellectual Property Rights
The Platform and all information, content, materials, products including, but not limited to text, content, photographs, graphics, texts, video and audio content and computer code (“Content”) on the Platform is owned and controlled by the Company and the design, structure, selection and feel and arrangement of the Content is protected by copyright, patent and trademark laws and other various intellectual property rights either in the favour of the Company, or third parties from whom the appropriate permissions have been taken under applicable laws. The trademarks, logos and service marks displayed on the Platform (“Marks”) are the property of the Company or other respective third parties, as the case may be. You are not permitted to use the Marks without the express prior written consent of the Company or the third party that owns the Marks.
Further, You understand and accept that all information, except Your personal information and other data submitted by You for the purposes of transacting on the Platform, through the Platform shall be deemed the property of the Company, and the Company shall be free to use any ideas, concepts, know-how or techniques provided by You on the Platform, in any manner whatsoever. On initiating a contact or query through the Platform, You agree to be contacted by the Company or Nextbillion or any other entities with whom the Company has entered into an arrangement for the provisions of Services to You.

Disclaimer of Warranties, Indemnification and Limitation of Liability
You expressly understand and agree that, to the maximum extent permitted by applicable law, the Platform and other Content are provided by the Company on an “as is” basis without warranty of any kind, express, implied, statutory or otherwise, including the implied warranties of title, non-infringement, merchantability or fitness for a particular purpose. Without limiting the foregoing, the Company makes no warranty that (i) the Platform or Platform Services will meet Your requirements or Your use of the Platform will be uninterrupted, timely, secure or error-free; (ii) the results that may be obtained from the use of the Platform will be effective, accurate or reliable; (iii) any errors or defects in the Platform will be corrected. No advice or information, whether oral or written, obtained by You from the Company and/or our group entities or affiliates shall create any warranty not expressly stated in the Terms of Use.

The Company will have no liability related to any user Content arising under intellectual property rights, libel, privacy, publicity, obscenity or other laws. The Company also disclaims all liability with respect to the misuse, loss, modification or unavailability of any user Content. Further, the Company will not be liable for any loss that You may incur as a consequence of unauthorized use of Your Account or Account information in connection with the Platform or the Platform Services either with or without your knowledge.

The Company has endeavoured to ensure that all the information on the Platform is correct, but the Company neither warrants nor makes any representations regarding the quality, accuracy or completeness of any data, information regarding the Platform Services or otherwise. The Company shall not be responsible for the delay or inability to use the Platform or related functionalities, the provision of or failure to provide functionalities, or for any information, software, functionalities and related graphics obtained through the Platform, or otherwise arising out of the use of the Platform, whether based on contract, tort, negligence, strict liability or otherwise. Further, the Company shall not be held responsible for non-availability of the Platform during periodic maintenance operations or any unplanned suspension of access to the Platform that may occur due to technical reasons or for any reason beyond the Company’s control. You understand and agree that any material or data downloaded or otherwise obtained through the Platform is done entirely at Your own discretion and risk, and that You will be solely responsible for any damage to Your computer systems or loss of data that results from the download of such material or data.

You acknowledge that the software and hardware underlying the Platform as well as other internet related software which are required for accessing the Platform are the legal property of the respective vendors. The permission given by the Company to access the Platform will not convey any proprietary or ownership rights in the above software/hardware to You.

Please note that not all the Platform Services are available in all geographical areas and depending on Your location, You may not be eligible to avail certain Platform Services . The Company and /or its group entities and affiliates reserve the absolute right to determine the availability and eligibility for any of the Platform Service offered on the Platform.

The Company is not responsible for the availability of content or other services on third party sites linked from the Platform and the Company urges You to read the terms of use of the respective third party sites, before accessing or registering with any of such third party sites. Further, the Company does not make any warranties and expressly disclaims all warranties express or implied, including without limitation, those of merchantability and fitness for a particular purpose, title or non-infringement with respect to any information or services or products that are available or advertised or sold through these third-party websites.

The Company shall not be liable for failure or error of any transaction on the Platform or for any failure on part of the Company to perform any of its obligations under these Terms of Use if performance is prevented, hindered or delayed by a Force Majeure event (defined below) and in such case its obligations under these Terms of Use shall be suspended for so long as the Force Majeure event continues. The term “Force Majeure Event” means any event due to any cause beyond the reasonable control of the affected party, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

Further, You will not dispute or hold the Company responsible for:
any act that is not an obligation of Company under the Terms of Use;
any disclosures made by the Company or its group entities/affiliates to any statutory body under any law;
any loss, notional or otherwise, incurred by You due to delays either at the bank, BSE Star mutual fund, registrar and transfer agency and/or the AMC and/or due to any technical issues faced by You on the trading Platform;
rejection of Your instructions by the bank, BSE Star MF, registrar and transfer agency and/or AMC; and
any NAV related issue, loss etc where orders are placed by you after the cut off time prescribed by Nextbillion which is specified on the website www.groww.in
Queries/complaints with respect to deduction of amount by Nextbillion prior to the SIP date.
squaring off your trades/positions as per its Risk Policy for factors including but not limited to volatility, margin, outstanding debts, circuit limits (irrespective of margin availability), liquidity etc and you shall be solely liable for the consequences arising thereto.
loss on account of auto square off of your trades/positions by Nextbillion after the cut off time which is specified on the website.
restrictions imposed on “SMS stocks” as per its internal policy
limits/restrictions placed on trading as per its Risk policy and/or Surveillance policy
processing of instructions authenticated by Your login credentials, non-availability or non accessibility of the Platform, telephone(s), or office(s) of Company and its group entities/affiliates in case of circumstances beyond their control.

You agree to indemnify the Company and/ its group entities and affiliates, its directors and employees from any losses, damages, penalties, claims, costs and demands (including reasonable attorney fees and legal costs) arising out of Your breach or non-performance and/or non-observance of the duties and obligations, representations, warranties and covenants under the Terms of Use or due to your acts or omissions. You further agree to hold the Company and/or its group entities and affiliates harmless against any claims made by any third party due to, or arising out of, or in connection with, Your use of the Platform, any misrepresentation with respect to the data or information provided by You, Your violation of the Terms of Use, or Your violation of any rights of another, including any intellectual property rights. In no event shall the Company and/ or its group entities and affiliates and their officers, partners, consultants, agents and employees, be liable to You or any third party for any special, incidental, indirect, consequential or punitive damages whatsoever, arising out of or in connection with Your use of or access to the Platform or Content on the Platform. The limitations and exclusions in the Terms of Use apply to the maximum extent permitted by applicable laws.

You warrant that all the details and information provided by You to the Company and/or our group entities/affiliates while using this Platform (including for the purposes of carrying out investments) are correct, accurate and genuine. You further warrant that providing such details and information on the Platform or sharing of the aforesaid details/information shall not violate any third – party rights or the intellectual property right of any third party.

You hereby further acknowledge and agree that You may create a pool or selection of mutual funds (“Portfolio”) either for the purposes of subscription or otherwise (including for the purposes of Your own analysis). While creating such a Portfolio, You will be given an option to make the Portfolio created by You to be made visible to other users on the Platform. If You opt for the Portfolio to be made visible to third parties, You hereby acknowledge and agree that the Portfolio can be copied or used by the Company and/or Nextbillion or the other users of this Platform for the purposes of investment. Please note that in such cases, You shall not claim any royalty or other financial/monetary benefits or compensation from the Company and/or Nextbillion or any of the other users of this Platform for the use of Your Portfolio.

Notwithstanding whether You opt to make Your Portfolio public or not, You hereby specifically acknowledge and agree that You shall not have any proprietary right or intellectual property right over the choice, selection, idea or concept of pool of mutual funds in that Portfolio; and the Company and/or Nextbillion shall have the right to adopt or copy the Portfolio for its commercial and non-commercial use.

Further, You shall be solely responsible for any investment decision taken by it on the basis of the Portfolio created using this Platform or the system generated analysis of such a Portfolio; and the Company and/or Nextbillion shall not be liable for any loss or damage caused to You or any other users of this Platform due to such an investment decision, or any kind of reliance upon it. The Company specifically and expressly disclaims the accuracy and correctness of the analysis or data generated or reflected while creating such a Portfolio.

Eligibility to Use: By accepting the Terms of Use, You hereby represent that:
You are of 18 (eighteen) years of age or older and in case of You are acting as guardian on behalf of a minor, You have the necessary authority to register/sign up on the Platform for the availing the Services on behalf of the minor;
You are of legal age to form a binding contract, are not a person barred from receiving the Platform Services under the applicable laws and are competent to enter into a binding contract. The Company reserves the right to refuse access to the Platform to new Users and any such user who has been suspended, disqualified, debarred and/or removed by the Company for any regulatory and/or statutory authority reason whatsoever shall not been entitled to avail the Platform Services; and
You agree to abide by the Terms of Use, offer documents, investor application form, demat account opening form and Risk Disclosure documents and any other information provided by You on and through the Platform for the provision of the Platform Services;
the money You invest is from Your bank account (primary holder’s bank account in case of Investment Account held jointly), and the same is from legitimate sources and remitted through approved banking channels;
You are prohibited from selling, trading, or otherwise transferring Your Account to another party or impersonating any other person for the purposing of creating an account with the Platform;
You agree to make an informed independent investment decision by reading the offer documents of the mutual fund schemes that You are investing in; and
Before investing, You shall seek independent financial planning, legal, accounting, tax or other professional advice, if required.
You shall be solely responsible for all the investment decisions executed by You on the Platform in Your portfolio and the Company shall nowhere be responsible for any loss or harm incurred by You due to the investment activities carried out in Your portfolio.

User Account, Password and Security
In order to access the Platform Services on the Platform and Your account on the Platform (“Account”), You will have to register on the Platform by providing details including but not limited to mobile number, mother’s name, father’s name, email address, password, date of birth, gender, Permanent Account Number (PAN), signature, marital status, nominee details, cancelled cheque, photograph and video recording, etc. and other information as may be required by the Company from time to time. Your Account will be activated once Nextbillion, Our regulated entity, undertakes Your KYC verification on the Platform in accordance with the Know Your Client (“KYC”) guidelines and/or circulars and/or communications issued by the Securities and Exchange Board of India (“SEBI”), respective Exchanges (National Stock Exchange of India Limited and BSE Ltd.), Depositories (Central Depository Services Limited and National Securities Depository Limited) from time to time based on the information provided by You including personal information.

You hereby give Your consent to NBT to share Your KYC documents with KYC Registration Agency i.e. CVL etc along with the complete set of Demat and broking account opening forms/information submitted by You to NBT. You understand that once the abovementioned documents/information are uploaded onto the system of KYC Registration Agency, the same can be downloaded by any other intermediary/KYC Registration Agency with whom You are entering into a business relationship.

We may also ask You for certain financial information, including Your billing address, bank account details, and/or other payment related details or other payment method data, and debit instructions or other standing instructions to process payments for the Platform Services. The Company may ask You to provide certain additional information about Yourself on a case to case basis. You shall ensure and confirm that the Account information provided by You is complete, accurate and up-to-date. If there is any change in the Account information, You shall promptly update Your Account information on the Platform. If You provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or if the Company has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, the Company has the right to suspend or terminate Your Account and refuse any and all current or future use of the Platform (or any portion thereof) at its discretion, in addition to any right that the Company may have against You at law or in equity, for any misrepresentation of information provided by You.

You will be responsible for maintaining the confidentiality of the Account information and are fully responsible for all activities that occur under Your Account and also agree to keep your login credentials safe and confidential at all times. You further agree to promptly change your login credentials and inform the Company immediately in case of any actual or suspected unauthorized use of Your Account. The Company cannot and will not be liable for any loss or damage arising from Your failure to comply with this provision. You may be held liable for losses incurred by the Company or any other user of or visitor to the Platform due to authorized or unauthorized use of Your Account as a result of Your failure in keeping Your Account information secure and confidential.

Violation of the Terms of Use
You agree that any violation by You of these Terms of Use will constitute an unlawful and unfair business practice, and will cause irreparable harm to the Company and/ or its group entities and affiliates, as the case may be, for which monetary damages would be inadequate, and You consent to the Company obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that the Company may have at law or in equity. If the Company takes any legal action against You as a result of Your violation of these Terms of Use, they will be entitled to recover from You, and You agree to pay, all reasonable attorneys’ fees and costs of such action, in addition to any other relief that may be granted.

Suspension and Termination:
The Terms of Use will continue to apply until terminated by either You or the Company as set forth below. If You object to the Terms of Use or are dissatisfied with the Platform, your only recourse is to (i) close Your Account on the Platform; and/or (ii) stop accessing the Platform. In case you violate these Terms of Use and/ or any applicable law, the Company may, at any time and in its sole discretion, terminate Your Account and/or prevent You from accessing the Platform and/or Platform Services.
The Company may delist You or block Your future access to the Platform or suspend or terminate your Account if it believes, in its sole and absolute discretion that You have infringed, breached, violated, abused, or unethically manipulated or exploited any term of these Terms of Use or anyway otherwise acted unethically. Notwithstanding anything in this clause, these Terms of Use will survive indefinitely unless and until the Company chooses to terminate them. If You or the Company terminate Your use of the Platform, the Company may delete any Content or other materials relating to Your and the Company shall have no liability to You or any third party for doing so. However, Your transactions details may be preserved by the Company for purposes of tax or regulatory compliance.
The Company, in consultation with its group, associates and subsidiary companies may modify these terms at any time.

Refund policy
The transactions on the Platform with respect to the Platform Services for stock broking and mutual fund units will be completed only after successful transfer of money from Your registered bank account to the relevant AMC. Please note that the mutual fund and the stocks will be credited to Your Account within 2 (two) working days, or as stipulated by Regulatory bodies from time to time, from the date of successful transfer of such amount. You hereby agree and acknowledge that the transactions on the Platform once completed cannot be cancelled by You. With respect to investments in mutual funds and stocks, in case of successful transfer of money from Your account registered with the AMC, however, any failure to reflect the mutual fund in the Account, the money would be refunded to Your registered bank account within the relevant time period agreed with the AMC and Nextbillion shall not be responsible for the same.

Governing laws
The Terms of Use shall be governed and construed in accordance with the laws of India without reference to conflict of laws principles. All disputes arising in relation to shall be subject to the exclusive jurisdiction of court at Bangalore.
SEBI Caution
Investment in the securities market (including mutual fund investments) are subject to market risks, please read all investments, offer and scheme-related documents carefully, before investing. For the purposes of these Terms of Use, the term “Offer Document(s)” shall refer to a collective term for Offer Document, Scheme Information Document, Statement of Additional Information, Key Information Memorandum, issued by the Asset Management Company that manages the mutual fund.
Report Abuse
In the event You come across any abuse or violation of these Terms of Use or if You become aware of any objectionable content on the Platform, please report the same to the following e-mail id: support@groww.in or grievances@groww.in

Communications:
You hereby expressly agree to receive communication (including transactional messages) or by way of SMS and/or E-mail or through WhatsApp from the Company or Nextbillion or any third party in connection with the Platform Services or Your registration on the Platform. You can unsubscribe/ opt-out from receiving communications through SMS and e-mail anytime by visiting support@groww.in
Whatsapp Groups
The Company reserves a right to create any Whatsapp groups (“Groups”) through its representatives (hereinafter referred to as “Group Admin”) who are expressly authorized to control, monitor and administer the Groups on its behalf. The usage, membership, and participation in the Group are subject to the following terms and conditions:

You shall not:
use the Groups for circulating, uploading, transmitting, or otherwise making available any information, data or content that is unlawful, harassing, threatening, harmful, tortuous, defamatory, libellous, abusive, violent, obscene, vulgar, invasive of another’s privacy, hateful, racially or ethnically offensive, or otherwise objectionable;
stalk, harass, threaten or harm another user using the Groups;
engage in any copyright infringement or other intellectual property infringement, or disclose any trade secret or confidential or personal information in violation of a confidentiality, employment, or nondisclosure agreement and/or privacy norm to which you are subject to;
post, send, transmit or otherwise make available any unsolicited or unauthorized e-mail messages, advertising, promotional materials, junk mail, spam, or chain letters, including, without limitation, bulk commercial advertising, and informational announcements;
upload, post, e-mail, transmit, store or otherwise make available any material that contains viruses or any other computer code, files or programs designed to harm, interfere or limit the normal operation of the Service (or any part thereof), or any other computer software or hardware;
interfere with or disrupt the Group services;
plan or engage in any illegal activity using the Groups;
circulate or post any jokes and poems;
circulate or post any religious or politically oriented views or comments; and
pretend to be anyone, or any entity, You are not i.e. You may not impersonate or misrepresent yourself as another person (including celebrities), entity, another participant of the Groups, an employee or official or representative of Nextbillion,;

The Group Admin reserves the right at all times to determine, in its sole discretion, whether the content posted on the Group is appropriate and in compliance with these Terms of Use. The Group Admin further reserves the rights to remove any participant/member from the Group if it finds You or any participant/member to have circulated/posted any content which is objectionable or improper for the Groups or its participants and/or deemed to have violated the Terms of Use or for any reason whatsoever. The participants shall not challenge or question such removal by the Group Admin or declaration of any content as inappropriate or not compliant with the Terms of Use. The participant hereby agrees and acknowledges that any of such actions by the Groups Admin shall not be construed as defamatory by the participant or You. This Group shall be used only for communication and group chat in relation to financial investments, and financial products.

The views or comments posted herein by any participant (including any recommendation for investment and/or disinvestment in any financial products including mutual funds) shall be the views and comments of that participant only and shall not be construed to be the views or comments of the Group Admin and/or the Company, or its group entities/affiliates or that such view/comments are endorsed by them.

The participant agrees and acknowledges that views/comments/suggestion by any other participants in the Groups shall be subject to verification by the participant reading/relying upon such views/comment/suggestion including view/comments/suggestion with respect to any financial product or class of financial products and financial market conditions. The participant agrees and acknowledges that the investments in mutual funds, stocks or any other financial products are subject to market risks (including possible loss of the principal amount invested), and the participant shall read all investment/scheme-related documents carefully, and make its own assessment before making any investment/disinvestment decision.

You agree to defend, indemnify and hold the Group Admin, the Company and/or its group entities, its affiliates, directors, officers, employees, agents, partners and licensors harmless from any claim or demand, including reasonable attorney’s fees, made by a third party or any other participant in the Groups, relating to or arising from: (a) any content You submit, post, transmit, or otherwise make available in and through the Groups; (b) Your use of the Groups; and/ or (c) any violation by You of the Terms of Use. This obligation shall survive the termination or expiration of these Terms of Use or termination of your usage of the Groups by You and due to Your removal by the Group Admin.

You agree and acknowledge that Your personal information including your mobile number disclosed in the Groups may be used by the participants and/or the Groups Admin/the Company to communicate or establish contact with you or for any other purposes. You hereby further unconditionally consents that such communications via SMS/text messaging services and/ or voice call by any other participant, Group Admin/ Company is (a) upon the request and/or authorization by you, (b) ‘transactional’ and not an ‘unsolicited commercial communication’ under applicable laws including under the guidelines issued by Telecom Regulation Authority of India (“TRAI”) and (c) in compliance with the relevant guidelines of TRAI or such other authority in India and abroad. You shall indemnify the Group Admin and/or Company against all types of losses and damages incurred by it or its affiliates, ,group entities, directors, officers, employees, agents, partners and licensors due to any action taken by TRAI, access providers (as per TRAI regulations) or any other authority due to any erroneous compliant raised by you or anyone on the Group Admin and/or Company or its affiliates, group entiites, directors, officers, employees, agents, partners and licensors with respect to the intimations mentioned above or due to a wrong number or other contact details provided by you for any reason whatsoever.

Posts
The Company may provide and display content on the Platform which features specific articles/write ups by third parties in relation to the mutual funds and stocks. You hereby agree and acknowledge that such content displayed on the Platform does not represent the views and/ or recommendations of the Company and You are required to read the documents carefully before investing in any mutual funds and/ or stocks. You may also be allowed to post and comment on such content on the Platform and You hereby undertake to ensure that such comments shall not be offensive and will be in accordance with applicable laws. All material added, created, submitted, or posted to the Platform by You is Your sole responsibility. The Company reserves the right to review any information provided/data uploaded, if any, by You on the Platform and delete any information/data that is inconsistent with these Terms of Use.
General Provisions
Notice: All notices from the Company will be served by email to Your registered email address or by general notification on the Platform. Any notice provided to the Company pursuant to the Terms of Use should be sent to support@groww.in with subject line – Attention: TERMS OF USE.
Assignment: You cannot assign or otherwise transfer the Terms of Use, or any rights granted hereunder to any third Party. The Company’s rights under the Terms of Use are freely transferable by the Company to any third party without the requirement of seeking Your consent.
Severability: If, for any reason, a court of competent jurisdiction finds any provision of the Terms of Use, or any portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties as reflected by that provision, and the remainder of the Terms of Use shall continue in full force and effect.
Waiver: Any failure by the Company to enforce or exercise any provision of the Terms of Use, or any related right, shall not constitute a waiver by the Company of that provision or right.

IP Infringement
If You believe the Platform violates Your intellectual property, You must promptly notify the Company in writing at support@groww.in These notifications should only be submitted by the owner of the intellectual property or an agent authorized to act on his/her behalf. However, any false claim by You may result in the termination of Your access to the Platform. You are required to provide the following details in Your notice:
(i) the intellectual property that You believe is being infringed;
(ii) the item that You think is infringing and include sufficient information about where the material is located on the Platform;
(iii) a statement that You believe in good faith that the item You have identified as infringing is not authorized by the intellectual property owner, its agent, or the law to be used in connection with the Platform;
(iv) Your contact details, such as Your address, telephone number, and/or email;
(v) a statement that the information You provided in Your notice is accurate, and that You are the intellectual property owner or an agent authorized to act on behalf of the intellectual property owner whose intellectual property is being infringed; and
(vi) Your physical or electronic signature.

Terms and Conditions for Safe Exit 

Introduction:

These Terms and Conditions (“TnC”) govern the use of the Exit’ feature(“Feature”) provided by Nextbillion Technology Pvt. Ltd (“NBT”).

Description of the Feature:

When you use the 'Safe Exit' feature, we'll automatically trigger orders to close your open positions in futures and options when your total profits or losses for the day reach a level you set.

Before we close these positions, we'll make sure to cancel any other pending orders you might have, except for specific types of orders called GTT and OCO.

This helps you manage your positions more effectively and avoid any unexpected losses or gains. Learn more

TERMS AND CONDITIONS OF MARGIN TRADING FINANCING FACILITY

The Client hereby agrees and undertakes to abide by the following Terms and Conditions (T&C) for availing Margin Trading Facility (“MTF”) from Nextbillion Technology Private Limited (“Stock Broker”):

1. 1. The Stock Broker shall permit the MTF in accordance with Securities and Exchange Board of India (“SEBI”) and SEBI recognized exchanges (hereinafter referred to as "the Stock Exchanges") guidelines and only in respect of securities as specified in SEBI and/or Stock Exchange circulars issued from time to time. (hereinafter referred to as “Approved Securities”).
   2. With a view to secure the outstanding balance of the MTF facility, the Client shall be required to furnish margin in the form of cash, cash equivalent and/ or the Approved Securities as collateral by marking pledge in favour of the Stock Broker for availing the MTF Facility (such pledged Approved Securities as collateral are hereinafter referred to as “Non-cash Collateral”).
   3. The Stock Broker shall have the sole discretion to extend MTF Facility to the Client or not. By agreeing to provide the above , it does not create any obligation on the Stock Broker to provide the MTF to the Client nor does it create any right in favor of the Client to ask for the MTF from the Stock Broker. 
   4. The Stock Broker shall have the right at its absolute discretion to withdraw/ suspend/reduce the MTF Facility at any time without giving any reason.
   5. In the event the Stock Broker decides not to extend the MTF for a particular transaction or transactions or reduce the amount/limits of the MTF given to the Client, the Stock Broker shall not be required to provide any reasons thereof nor shall the Stock Broker be liable for any loss/damages etc to the Client by reason of the Stock Broker’s refusal to extend the MTF to the Client or its decision to reduce the amount/limit of the MTF.
   6. The Client shall maintain or cause to maintain with the Stock Broker, at all times margin of such amount/percentage as prescribed by SEBI and/or the Stock Exchanges or such amount/percentage as decided and computed by the Stock Broker from time to time, whichever is higher.
   7. The Stock Broker shall be entitled to revise at any time and from time to time the rate of margin and the Stock Broker’s decision to revise the rate of margin shall be final and binding on the Client and the Stock Broker shall not be required to assign any reasons for the same.
   8. Any notification in the Mobile App or Web login specifying the margin shortfall amount shall be a notice/communication of margin call. The Client shall deposit/pay the margin shortfall amount as specified in the Mobile APP or Web login immediately on receipt of such notification.
   9. The Stock Broker shall have right to call from the Client additional margin and the Client shall make up the difference either by payment of requisite amount to the Stock Broker or by causing the delivery of additional Approved Securities, acceptable to the Stock Broker as collateral. In case the Client fails to do so, then the Client shall be deemed to be in breach of these T&C and it shall be considered as an Event of Default and the Stock Broker shall have right to immediately without any notice to the Client liquidate all or any of the Non-cash Collateral and / or Funded Securities (herein after collectively referred to as “Securities” and individually as “Security”) on the Stock Exchange and forthwith transfer/ appropriate the proceeds from such sale towards the payment of the MTF Facility. The Stock Broker shall not be held liable / responsible for any losses / damages arising due to such liquidation / square off by the Stock Broker.
   10. Upon margin falling to the level as defined in the MTF risk policy , the Stock Broker shall be entitled to immediately and without any reference or intimation to the Client liquidate all or any of the Securities and forthwith transfer/appropriate the proceeds towards the repayment of the MTF facility and the Client shall be solely responsible for any loss, damages, costs etc arising thereto.
   11. In the event that a partial payout of the total Margin Trading Facility (MTF) quantity is settled by the Exchanges, the entire MTF position will not be a part of MTF positions in the Client's account and the Stock Broker shall not be responsible in any manner in this regard.
   12. Interest, Default Interest:
       1. The Stock Broker shall charge interest on the outstanding MTF balance at the end of each day at: Funded amount less than Rs.25 Lakh: 15.75% per annum or ~0.043% per day, Funded amount above Rs.25 Lakh: 9.75% per annum or ~0.027% per day, calculated on daily outstanding MTF balance, payable weekly/monthly/quarterly, within 3 working days of debit to the MTF account (hereinafter referred to as “Interest”). On default of payment of Interest as stated above, the Stock Broker shall be entitled to debit the same to the MTF account of the Client with the Stock Broker and add to the Funded Amount and the Stock Broker shall charge Interest thereon as if such amount was an additional amount funded by the Stock Broker to the Client either at same interest rate or such other rate of interest as may be decided and communicated by the Stock Broker to the Client from time to time.
       2. In case if the Client defaults to pay the outstanding MTF balance (or part thereof), the Client shall be liable to pay default interest (by way of liquidated damages) at the rate of 18 % p.a. (over and above the applicable rate of Interest) calculated on overdue amount (hereinafter referred to as “Default Interest”). The Default Interest shall be in addition to the Interest stipulated as above and shall be compounded with monthly rests.
       3. The Client further agrees that the MTF Facility is a commercial transaction and specifically waives any defence under usury or other laws relating to restricting interest.
       4. The Stock Broker shall, at its sole discretion, be entitled to alter at any time and from time to time the rate of Interest, Default Interest and/or periodicity of charging Interest by sending a communication to the Client informing its decision to alter the rates of Interest, Default Interest and/or periodicity of charging Interest. The Client agrees and undertakes to pay Interest/Default Interest thereafter at such altered rates and/or within such altered periodicity from the date of completion of the period as mentioned in the communication sent by the Stock Broker or such other future date as may be specified by the Stock Broker in its communication.

13. Stamp Duty and Other Dues: The Client shall be solely liable to pay all expenses and charges including without limitation to stamp duty, other government charges and statutory charges as may be applicable for availing and in connection with the MTF. If the Stock Broker pays any such duty, expenses and/or charges, the Client hereby agrees to reimburse the same to the Stock Broker within 3 (Three) days from the date of demand by the Stock Broker on the Client.

14 Repayment on Demand: Notwithstanding anything contained herein, any outstanding amount under the MTF shall be repayable on demand at the sole discretion of the Stock Broker. The Client undertakes to repay outstanding amount under the MTF forthwith on demand by the Stock Broker. If the Client either fails or delays the repayment of the MTF on demand as aforesaid, the Stock Broker shall be entitled to sell the Client’s Securities, either in its own name or in the name of the Client and collect & appropriate the sale proceeds thereof to clear any outstanding amount under the MTF of the Client and the Client shall be solely responsible for any costs or consequences thereof. For any deficit amount, the Stock Broker is entitled to recover the same from the Client as available under law or equity.

15.Event of Default

In respect of the MTF provided or to be provided by the Stock Broker, the happening of any of the following events shall be considered as an event of default by the Client (herein referred to as “Event of Default”):

1. if the Client fails to pay any part of the MTF as and when the same becomes payable;
2. if the Client fails to pay Interest on the MTF as and when the same becomes payable;
3. if the Client fails to pay the outstanding MTF balance forthwith after giving his/her notice of closure / termination of the MTF Facility with the Stock Broker;
4. if the Client fails to maintain the stipulated margin as communicated by the Stock Broker from time to time and also does not restore the same to the required level within the timeline as intimated by the Stock Broker;
5. on death or lunacy in case of an individual Client;
6. failure by the Client to adhere to the Risk Policy of the Stock Broker.
7. for such other events as determined by the Stock Broker as an event of default.

Consequences of Event of Default

If an Event of Default takes place, then:

1. Unless the Stock Broker gives time or other accommodation in writing or through notifications on the Mobile App/Web, the MTF Facility shall, if so decided by the Stock Broker in its absolute discretion, become forthwith due and payable by the Client to the Stock Broker and the Stock Broker shall be entitled to enforce the Securities without prejudice to the Stock Broker’s other legal rights and remedies;
2. The Stock Broker shall be further entitled to liquidate/ square off the Securities without any further notice to the Client. the Stock Broker’s decision regarding liquidating the Securities or giving a notice to cure a particular Event of Default shall be final and binding and the Client shall not raise any objection on the same;
3. The Client acknowledges and agrees that the right to sell Securities contained in this T&C is reasonable and necessary to protect the interests of the Stock Broker in respect of repayment of the MTF Facility having regard to the inherent risk associated with the Securities and their market prices. The right of the Stock Broker to liquidate the Securities is absolute, final and binding on the Client. The Stock Broker shall have the sole authority to decide the mode, manner, time and the price at which to effect the liquidation of the Securities and the Client undertakes and agrees that he/she shall not raise any dispute as to the manner, mode, time and the price at which the Securities are sold / squared off and the Client agrees to pay to the Stock Broker forthwith at the Stock Broker’s demand such amount as will make up the shortfall. Any action taken by the Stock Broker in terms of this Clause shall not be challenged by the Client, and the Stock Broker shall not be liable to the Client for any loss or damage which may be caused to the Client.

16.General:

• The Stock Broker may, at its sole discretion, move any of Securities from the approved to the non-approved category and shall be entitled to review the same from time to time. When any Approved Securities provided as Non-cash Collateral are moved from the approved to the non-approved category, the Client shall forthwith make good the shortfall, either by paying the funds/and or by providing the Approved Securities to the extent acceptable to the Stock Broker.
• Securities declared by the Stock Broker to be unacceptable/non- approved shall nevertheless continue to remain pledged with the Stock Broker as a security unless the Stock Broker releases the same. At any time during the currency of the MTF Facility availed by the Client, the Stock Broker shall, without any notice to the Client, have the right and authority to sell/dispose of such Securities or any part thereof in any manner as it deems fit either by sale on the Stock Exchanges or otherwise in any manner whatsoever and to apply the net proceeds of such sale in satisfaction so far as the same will extend towards liquidation of the MTF Facility balance. The Client shall not challenge any action taken by the Stock Broker in this regard.
• The Stock Broker shall be entitled at its sole discretion to apply haircut to reduce the value of the Securities for the purpose of determining the level of margin or otherwise, which shall be final and binding on the Client. Where due to application of haircut the margin falls below the agreed limit, the Client undertakes that before the start of the trading session of the Stock Exchange on the succeeding day from the date of the statements or within such time as the Stock Broker may permit, to make up the difference either by payment in cash to the Stock Broker or by causing the delivery of additional collateral, acceptable to the Stock Broker, of the value necessary to make up the difference. The choice of the securities and the extent of the limits shall be determined by the Stock Broker at its sole discretion from time to time and the Client shall abide by the same.
• The Stock Broker shall be entitled to impose Approved Security wise limits on the Client from time to time as it may deem fit. Additionally, the Stock Broker shall have a right to impose limits in respect of any specific Approved Security as a whole. The Stock Broker shall also have a right to revise the limits in respect of the MTF Facility. The Client agrees to abide by such limits.
• Notwithstanding the fact that the Stock Broker may prescribe higher Margin requirement than what is prescribed by SEBI/the Stock Exchanges, if the Margin available in the Client’s MTF account is sufficient to meet minimum Margin requirement prescribed by SEBI/the Stock Exchanges, then the Stock Broker, at its sole and absolute discretion, may allow the Client to take further exposure and / or continue with the existing positions under the MTF Facility as per SEBI/the Stock Exchange prescribed Margin.
• On part payment of the MTF, which Funded Security to be released will be at the sole discretion of the Stock Broker.
• The Client understands and agrees that the Stock Broker shall be entitled to appropriate the credit balance/surplus collateral of the Client in the MTF account maintained by the Client with the Stock Broker towards the margin requirement and/or debit balance in the brokerage account maintained by the Client with the Stock Broker in any segments/Stock Exchange. The Stock Broker shall also be entitled to appropriate the credit balance of the Client lying in the brokerage account maintained by the Client with the Stock Broker in any segments/Stock Exchange, towards the margin requirement and/or repayment of outstanding MTF balance and/or Interest and/or any other dues payable by the Client to the Stock Broker under this MTF Facility. 
• The Stock Broker at any time, without any consent of or further reference to the Client, assign or transfer all or any of its rights, benefits and/or obligations under these T&C to any other persons, companies, firms and/or financial institutions and the same shall be binding on the Client and the Client cannot raise any dispute in this regard later on.
• In case of lunacy, death, insolvency, dissolution, winding up of the Client as the case may be, any action to liquidate the Securities shall be binding upon the heirs, successors, representatives of the Client.
• Notice: (a) Any notice or other communication to be given by the Stock Broker to the Client under or in connection with these T&C including, but not limited to, communication for confirmation of orders/trades, margin calls, calls for liquidation of Securities shall be in writing and shall be deemed duly served if delivered personally or sent by prepaid registered post or courier or by e-mail or short message service (SMS) or via push notification on the Mobile App/web or in any other form as it may deem fit to the Stock Broker, to the Client on address/e-mail Id /telephone number (if any), as specified in the account opening form or as subsequently communicated/modified in writing by the Client; (b) that any notice/communication sent by the Stock Broker to the Client shall be deemed to have been properly delivered or served, even if such notice/ communication is returned to the Stock Broker as unclaimed/ refused/undelivered/bounced, if the same is served at the address/e-mail Id /telephone number communicated by the Client; and c) that any notice/communication relating to confirmation of orders/trades, margin calls, change of composition of Approved Securities, calls for liquidation of Securities and/or any other similar matters may be communicated by the Stock Broker to the Client orally or by e-mail or SMS.
• The aforesaid T&C shall be in addition to and to be read with the Securities Exchange Board of India (SEBI) Circular CIR/MID/DP/54/2017 dated 13.06.2017, the Rights and Obligations specified by the Stock Exchanges pursuant to the said SEBI circular and any other circular, guidelines, regulation as may be issued by SEBI and the Stock Exchanges from time to time with regards to the MTF Facility and the Risk Policy of the Stock Broker for the MTF Facility.
• The Client shall lodge grievance or disagreement with any transaction done under the Margin Trading Facility within 24 hours after receipt of the contract note by writing at support@groww.in
• Any dispute between the parties in connection with the Margin Trading Facility should first be resolved amicably. In case no amicable resolution is arrived at, parties can approach the investor grievance redressal mechanism or arbitration mechanism of the Stock Exchanges or the Online Dispute Resolution (ODR) mechanism
• Any provision of this T&C which is prohibited, unenforceable or is declared or found to be illegal, invalid, unenforceable, or void shall be ineffective only to the extent of such prohibition or unenforceability without invalidating the remainder of such provision or the remaining provisions of this T&C.
• The Client agrees that he/she shall be liable in case of loss (including opportunity/notional loss) damages, fines, penalties, charges, costs, expenses etc caused to the Client due to any interruption, malfunction, error, non-availability, technical glitch of for any other reason of whatsoever nature in the internet/mobile trading platform or any other order routing platform of the Stock Broker and shall not have any claim/complaint of whatsoever nature against the Stock Broker and/or its employees, directors, associates, affiliates, group etc in this regard.

17. The Client has read and fully understood the Risk Policy for the MTF Facility, the T&C applicable for availing the MTF Facility stated hereinabove including, but not limited to, for communication relating to confirmation of orders/trades, Margin calls, change of composition of Approved Securities, calls for liquidation of Securities. The Client hereby agrees to abide by the same and thereby provide his/her consent for availing the MTF Facility in accordance with the aforesaid T&C of the MTF Facility. Further, the Client has taken note of the fact that these T&C may be amended/changed/revised by the Stock Broker at any time in future and such amended/changed/revised T&C will be made available in the Mobile App/ web login provided by the Stock Broker to the Client or sent to the Client through e-mail or in physical form through post/courier/hand delivery. Upon such amended/ changed/revised T&C made available in the Mobile App/ web login provided by the Stock Broker to the Client or sent to the Client through e-mail or in physical form through post/courier/hand delivery the same shall be considered as delivered, read and understood by the Client and the Client shall abide by the same.

18. This T&C will be governed by and construed in accordance with the laws of India. The Courts of Bangalore shall have exclusive jurisdiction over all matters in connection herewith.

MTF (Margin Trading Facility) Risk Policy

Background:

MTF product offers features of buying securities with leverage against available margin (funds + collateral pledged) with Groww by the client.

Under this product, buy trades are allowed in product type ‘MTF’ with the leverage percent as defined on a daily basis as per internal risk approved list. 

Leverage will not exceed (but can be more stringent) than SEBI defined criteria which is currently VAR + 3x ELM for stocks in derivatives and VAR + 5x ELM for non-derivatives stocks for Group I securities as per SEBI norms. 

By nature, this is a leverage product and the client needs to maintain adequate margin at all point in time against his / her outstanding obligation. 

MTF positions can be held indefinitely subject to margin norms. However Nextbillion Technology Pvt Ltd will have the right to change their policy of liquidating any positions after giving due notice.

Leverage and margins:

List of eligible stocks will be within the Group 1 securities as defined by Exchanges / regulators and minimum margin requirement would be at the same or higher threshold than the requirement as defined by regulators / exchanges .

Maximum leverage will be 4 times on base margin. E.g. If a client has ₹ 1,00,000 margin he / she can avail an exposure of ₹ 4,00,000.

Margin can be in the form of cash and / or non-cash collateral (stocks which can be considered as collateral will be as per internal risk policy) with applicable haircut.

Quantum of leverage may change on a daily basis and Nextbillion TEchnology Pvt Ltd will have the sole discretion to decide the same.

Maximum and Concentration Limits

Member level limit: 80% of networth linked limit as derived by SEBI MTF circular. 

Client Limit: Maximum of 50 Lakhs or 10% of member level limit

Stock Limit: Defined from time to time as per internal policy.

Client - Stock concentration: Defined from time to time as per internal policy.

Risk Liquidations

Mark to market (combined at client level across positions): In case 80% of available margin is eroded across products (including MTF) at a client level. This will result in instant square off of all open positions (including MTF but except normal delivery positions in the equity segment) without any further notice / margin call. 

MTF shortfall: This is similar to Loan to Value (LTV) Or Collateral to Loan (CTL) monitoring for Lending products. 

The MTF ledger balance of the client (negative amounts only) will be considered as the “Loan Amount” (A). Any balance in normal ledger (+ve or-ve will be ignored)

Available securities pledged for coverage will be valued at post haircut value where the haircut is the latest haircut as per the approved list for MTF. This can be termed as “Collateral Value for Coverage”. At a stock level this value will be {(LTPxQty)x(1-HC%)}. Value will be summed up across all pledged stocks under MTF (B)

C = ( B / A ) x 100. If C <=85, then margin call will be triggered and the client needs to top up margin either by selling stocks or payment of funds within T+x days (by the EOD of T+x day where T is the date of margin call and days are calculated in form of trading days) (currently T + 1 day) from the date of margin call. In absence of the same, we will liquidate to the extent of making C >=100% on T+x +1 day (currently T+4 days) as per regulations in force. 

Note that the criteria of approved stock for “B” above will be as per the date of margin call. 

Ageing Liquidation: Not applicable currently.

T+1 liquidation for non confirmation of pledge:

T is the date of initiating the position in MTF - calculation in terms of trading days

In case the client has not approved MTF pledge till the time provided on T day as per internal product policy, stock will be sold on T+1st day from risk (and settled from CUSA pledge at EOD)

Entire position qty will be sold for which the pledge approval was not given by the client

In case of any auction / closeout impact - client needs to bear the same 

Such position will be sold on T+1 as ‘Delivery sell’ and the qty will not be allowed for clients to sell on T+1st day

Fresh exposure will be blocked in any leverage product (MTF and Intraday) in the same stock where selling is done for this reason to avoid net zero settlement obligation.

Stock moving out of approved list / out of Group 1 securities as per SEBI norms: Point 2 process will apply with same timelines. Since stock has moved out of the approved list, the post HC value will be NIL.

Intellectual Property Rights 

Groww, Platform and the processes, and their selection and arrangement, including but not limited to, all text, videos, graphics, user interfaces, visual interfaces, sounds and music (if any), artwork and computer code (and any combinations thereof) (collectively, the “Content”) on the Platform is owned by Groww and the design, structure, selection, coordination, expression, look and feel and arrangement of such Content is protected by copyright, patent and trademark laws, and various other intellectual property rights. 

The trademarks, logos and service marks displayed on the Platform (“Marks”) are the property of Groww or other respective third parties, as the case may be. You are not permitted to reproduce or distribute or otherwise use the Marks without the prior consent of Groww or the third party that may own the Marks. 

Groww shall not at any point of time hold any right, title, or interest in and to the intellectual property rights arising out of or associated with the application form, applied for and the registrations obtained by the Users. 

Violation of the Terms 

You agree that any violation by You of these Terms shall constitute an unlawful and unfair business practice, and will cause irreparable harm to Groww, for which monetary damages would be inadequate, and You consent to Groww obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that Groww may have at law or in equity. 

Indemnity & Liability

In no event will Groww be liable for any direct or indirect, consequential, incidental, special or punitive damages liabilities (including statutory), including without limitation damages for loss of profits or revenues, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from the use of or inability to use the Platform. 

You shall indemnify, hold harmless and defend Groww, its directors, employees , licensee (as applicable), its independent contractors, and their respective officers, directors, agents, and employees, from any claim or demand, or actions or damages, costs, liabilities and expenses including reasonable attorneys' fees, made by any third party or penalty imposed due to or arising out of any actual or alleged breach of these Terms and other policies, terms, guidelines provided by Us, or Your actual or alleged violation of any applicable law, rules or regulations or the rights (including infringement of intellectual property rights) of a third party or in case of gross negligence, fraud and misconduct or Your wrongful or improper use of the Bill Payment Services. 

You agree that, if You are dissatisfied with the Bill Payment Services or any portion thereof, Your exclusive remedy shall be to stop using the Bill Payment Services. 

Termination 

You agree that Groww at its sole discretion may terminate Your arrangement without prior notice and restrict Your access to Groww App if We determine that You have violated the Terms. You consent that in case Groww suffers losses, not limited to monetary losses, due to Your actions, We can take injunctive relief as deemed necessary within the said circumstances. We may also suspend Bill Payment Services or terminate Your arrangement in case of violation of User conduct of the Platform as defined by Groww. 

Governing Law 

These Terms and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Terms, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India. The courts in Bengaluru, Karnataka shall have exclusive jurisdiction over all matters connected with the Bill Payment Services. 

Miscellaneous 

We endeavor to execute and process transactions as per the defined process, however, We, shall not be held responsible for any non-responsiveness, delay, failure of systems or any other circumstances that might not be in Our control. 

We reserve the right to change/modify the Terms, at any time and without notice. You can determine when the Terms were last modified by referring to the “Last Updated” legend above. However, We shall not undertake to update You with the content contained herein from time to time. You are obliged to exercise Your independent diligence on the same before arriving at any decision and You will be solely responsible for Your actions. We shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information in the Terms. Your continuous use of the Groww following the posting of changes shall mean that You accept and agree to the changes and the Terms and Conditions and shall be legally bound by the same. You acknowledge and agree that the Bill Payment Services shall be subject to these Terms. 

Notice 

All notices from Groww will be served by email or SMS to Your registered email address or Mobile number respectively or by general notification on the Platform. 

Assignment 

You cannot assign or otherwise transfer these Terms, or any rights granted hereunder to any third party. Our rights under these Terms are freely transferable by Groww to any third party without the requirement of seeking Your consent. 

Severability 

If, for any reason, a court of competent jurisdiction finds any provision of the Terms, or any portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties as reflected by that provision, and the remainder of the Terms shall continue in full force and effect. 

Force Majeure 

Groww shall not be liable to You for its failure to perform or for delay in providing You access to Your account or to any Bill Payment Services thereof, to the extent such failure or delay results from causes beyond its reasonable control, including, without limitation, acts of God, fires, explosions, wars or other hostilities, sabotage, civil unrest, network disruptions or failures, change in laws, rules and regulations, insurrections, revolutions, strikes, labour unrest, earthquakes, floods, pandemic, epidemics or regulatory or quarantine restrictions, unforeseeable governmental restrictions or actions or controls or a failure by a third party hosting provider or internet service provider or on account of any change or defect in the software and/or hardware of Your computer system.

Terms on Inclusivity

At Groww, we are committed to providing an inclusive and accessible experience for all our clients. If you are a person with disabilities and wish to open a demat and trading account, we encourage you to reach out to our customer support team via email at support@groww.in or call our customer care number at +91 9108800604 for personalised assistance. Our sensitized dedicated customer support team is available to guide you through the account opening process and address any other queries you may have.

For additional information, you can refer to our FAQs which provide answers to common questions and concerns. We are here to ensure that your experience with Groww is seamless and supportive.

IP Infringement 

If You believe the Groww violates Your intellectual property, You must promptly notify Groww in writing at support@groww.in. These notifications should only be submitted by the owner of the intellectual property, or an agent authorized to act on his/her behalf. However, any false claim by You may result in the termination of Your access to the Platform. You are required to provide the following details in Your notice: 

1. the intellectual property that You believe is being infringed; 
2. the item that You think is infringing and include sufficient information about where the material is located on the Platform; 
3. a statement that You believe in good faith that the item You have identified as infringing is not authorized by the intellectual property owner, its agent, or the law to be used in connection with the Platform; 
4. Your contact details, such as Your address, telephone number, and/or email; 
5. a statement that the information You provided in Your notice is accurate, and that You are the intellectual property owner, or an agent authorized to act on behalf of the intellectual property owner whose intellectual property is being infringed; and 
6. Your physical or electronic signature.

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