In a development that underscores growing regulatory scrutiny in India’s fintech ecosystem, the Karnataka Criminal Investigation Department (CID) has conducted searches at the premises of Bengaluru-based savings and investment platform Jar over alleged compliance and regulatory lapses.
The action comes amid a broader push by enforcement and regulatory bodies to tighten oversight of digital financial platforms that handle consumer funds, particularly those operating in emerging asset classes such as digital gold and micro-savings products.
The Investigation
According to officials familiar with the matter, the searches were conducted as part of a preliminary inquiry into potential violation
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