India, Aug. 21 -- Is It Game Over For India's RMG Sector?

India's online gaming industry is battling for its survival. The lower house of the Parliament has passed a bill, which proposes a ban on all forms of online gaming that involve real money. The draft norms don't just render the business models of industry leaders like Dream11, MPL and Games24x7 obsolete - it has its ripples across.

Banks will be prohibited from processing financial transactions of real-money gaming (RMG) players

Advertising of RMG platforms will be banned

Any entities facilitating such companies will face up to three years imprisonment, a penalty of INR 3 Cr, or both

An Untimely Demise? The bill, which hits like a bolt from the blue, sounds the "death knell" f...