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Asked whether the law would apply to applications that provide financial rewards in IPL games, the Union Minister replied: Real money gaming is allowed. But money should not be a factor in the game. KYC norms are required by law in gaming involving real money.
Online gaming is regulated by Self Regulatory Organizations (SROs). Apart from the government, the sector, gamers and others related to the sector will be included in the SRO, he said. In the field of gaming in India, serious and significant development is targeted through the current framework. Rajeev Chandrasekhar said that the online gaming scene in the country is an area that opens up huge opportunities.
The members of these SROs include education experts, a psychologist in the department of psychiatry or mental health, an officer or member of an organization working in the field of child rights.
The central government has imposed a ban on online games of a betting nature. Games that involve real money betting have been disallowed. The government has also put forward proposals to ensure more security in the online gaming industry of the country.
The new law stipulates that Games that do not comply with the law will face ban and legal action.
According to the new proposal, the SROs have to formulate and publish a new framework. The guideline also says that this should be a way to protect consumers from addiction to gaming, financial loss possibilities, financial scams related to websites etc.
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