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...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.