Karnataka CID Investigates Bengaluru Digital Gold Firm Jar Over Regulatory Concerns

Karnataka's CID is investigating Jar Gold Retail Pvt Ltd, a Bengaluru-based digital gold savings platform with over three crore users, over potential violations related to its business model and gold storage practices. The probe follows alerts from the RBI and SEBI regarding the unregulated nature of digital gold trading. Jar maintains that it complies with laws, stores gold securely with Brink's, and disputes allegations under the BUDS Act, having sought a court stay on investigations. Authorities have registered an FIR and seized properties as part of the inquiry.