FinMin, Banks May Offer Exit Window To Outlawed Real-Money Gaming Firms

User Refunds For RMG: Fintechs Seek Clarity After Ban

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 com…

FinMin, Banks May Offer Exit Window To Outlawed Real-Money Gaming Firms

The Union government is considering providing a transition period for real-money gaming platforms to exit following the enactment of the Online Gaming Act, sources told NDTV Profit on Friday. The move, being discussed between the Ministry of Electronics and IT and the Ministry of Finance's Department of Financial Services, banks and payment aggregators, is aimed at ensuring an orderly wind-down of operations and wallet settlements without disrup…

Why India Banned Real-Money Online Games and What It Means for Dream11

The Indian government has taken a bold step by outlawing all real-money online games, including fantasy sports, to tackle rising concerns around addiction, financial harm and money laundering. The new law is called the Promotion and Regulation of Online Gaming Act 2025. The Parliament passed the Bill in August 2025, and President Murmu gave her assent on August 22, 2025, making it an official law. It includes strict penalties, including up to th…

Banks, fintech firms seek RBI guidelines for implementing online money game ban

New Delhi, Aug 29 (PTI) Banks and financial services firms during a joint meeting with the Department of Financial Services and the IT ministry on Friday sought detailed guidelines from the Reserve Bank of India (RBI) to implement the ban on online money gaming, sources said. The firms also sought more time to put in place mechanisms to comply with the ban, they said. The government has banned all forms of online money gaming by bringing in the …