India, Aug. 29 -- Days after the Online Gaming Bill disrupted the Indian real money gaming (RMG) industry, fintech companies and banks have reportedly reached out to the MeitY and the RBI for clear guidelines and more time to comply with the new rules.

As per a report by MoneyControl, startups such as PhonePe, Razorpay, PayU, Stripe, among others have flagged concerns around customer refunds, chargebacks, and the handling of current accounts after the RMG ban comes into effect.

The major point of contention for the aforementioned players arises from the fact that the refunds required to settle RMG user balances require an adequate liquidity buffer. Thus, they are said to have requested the government some flexibility to maintain balance...