'Making India Hub For Gaming': PM Modi Hails Passage Of Online Gaming Bill
The bill 'will save our society from the harmful effects of online money games', says the prime minister.
Prime Minister Narendra Modi lauded the passage of the Online Gaming Bill, which aims to crack down on money-based gaming in the country, in Parliament on Thursday.
"This Bill highlights our commitment towards making India a hub for gaming, innovation and creativity," he said in a post on X, adding that e-sports and online social games are set to see a boost.
Modi emphasised that the bill "will save our society from the harmful effects of online money games".
The legislation prohibits advertising or endorsements of platforms facilitating online games that involve monetary transactions. It proposes to bar banks, as well as non-banking financial bodies, from facilitating any transaction involving online money games. According to sources, the decision followed three and a half years of deliberations.
The rise of in-app purchases, virtual currencies and reward systems has only blurred these legal boundaries further, creating the need for a centralised framework.
Concerns like addiction among children and youth, mental health issues, financial losses, cross-border and inter-state operations facilitating in some cases of money laundering and terror financing form some of the focal points of the Bill, said sources.
Penalties proposed under the Bill include up to three years in prison and a fine of Rs 1 crore for any person offering online money gaming services. Those involved in advertising or endorsing such platforms may face up to two years in jail along with a Rs 50 lakh fine.
Similarly, anyone facilitating transactions or fund transfers for online gaming could face three years of imprisonment and penalties up to Rs 1 crore.
