MeitY issues new regulations around online gaming industry
The Ministry of Electronics and Information Technology (MeitY) announced new regulations on Saturday prohibiting games that involve wagering or bet🍸tinಌg. Rajeev Chandrasekhar, Minister of State for Electronics and IT, stated that the government would establish three self-regulatory organisations (SROs). These organisations will approve games that get along with the rules and regulations. All the new rules and regulations have been included as an amendment in the IT Rules of 2021.
Rajeev Chandrasekhar further explained that the games which fall un❀der wagering or the ones which cause harm or addiction to children are not acceptable. The SROs will consist of people from the industry, gamers, and other stakeholders. They will be the ones to regulate online gaming in India.
The SROs ꧋should comprise educators, a specialist🌱 in psychology and someone who has been a former member of an organisation focused on safeguarding children rights.
"This is an enabling framework to allow the serious and significa🐠nt expansion in the online gaming space in India, which is a very big opportunity," Rajeev Chandrasekhar said.
Rajeev Chandrasekhar also stated that any SRO which will allow online games that involve betting on the cricket matches such as the Indian Premier League will violate the rules and regulations and will surely be denotified. The SROs must also post a framework on their website to protect users a♍gainst gambling addic♎tion, financial loss, and fraud.
“This is the best possible framework and the way ahead for online gaming firms in India. With the ꦰnewly established clarity, the sector wiꦚll regain positive investor interest furthering its growth and parallelly driving new career and economic opportunities," Deepak Gullapalli, Founder & CEO, Head Digital Works (A23) said as reported by Business Today.
A couple o🐷f states in the country have banned online fantasy games with the primary re♑asons being suicides and addiction amongst children.
“The new guidelines will promote innovation, boost Create in India and Brand India, and give the much-neede🃏d impetus to India's Techade. It will ensure the responsible and transparent growth of the industry, safeguarding consumer interests while curbing the proliferation of illegal offshore gambling sites," Dr Subi Chaturvedi, Global SVP, Chief Corporate Affairs and Public Policy officer ofꦺ InMobi Group said as reported by Business Today.
