Digital gold is huge, about ₹3,000 crore changes hands every month, with total assets between ₹15,000 and ₹20,000 crore.
It's become popular because you can invest in gold easily without worrying about lockers or physical coins.
But with no current regulations, there are real concerns around investor safety and trust.
To fill the gap while waiting for government action, platforms like Gullak and Jar are teaming up to form the Digital Precious Metal Council of India.
Their goal? Set fair standards and ensure digital gold is backed by physical gold stored in vaults.
As Gullak cofounder Dilip Jain said: "The idea behind forming the industry body is to engage constructively with policymakers, build fair practice codes and create uniform standards for the industry."
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