What is SD Pay, app accused of duping 6 lakh people of ₹1,200 cr?

Digital wallet app SD Pay, also known as Apna Pay, faces 18 FIRs in Gujarat over an alleged ₹1,200-crore fraud affecting more than 6.52 lakh people across India. Marketed as a digital wallet, it offered users monthly cashback of 9% on deposited money. Its 15-level referral programme rewarded existing members for bringing new investors into the network.