<p>New Delhi: The government will notify the Online Gaming Act very quickly, a top government official said on Monday.</p>.<p>The Promotion and Regulation of Online Gaming Act, 2025, <a href="https://www.deccanherald.com/india/parliament-passes-online-gaming-bill-to-ban-all-forms-of-money-games-3690700">passed by the Parliament on August 21</a>, bars all forms of online money games while promoting e-sports and other online games.</p>.<p>"This is something which will come into effect very quickly and we are taking all necessary steps in that regard," Electronics and IT Secretary S Krishnan said on the sidelines of an ICEA event on semiconductors.</p>.<p>The act has received the President's assent. The act will come into effect after it is notified by the government.</p>.Karnataka High Court asks Centre to respond to plea against Online Gaming Act.<p>Last week, Banks and Fintech firms, in a joint meeting with the Department of Financial Services and the Ministry of Electronics and IT, have asked for detailed guidelines to implement the provision of the bill and a reasonable time for putting up system in place to check transactions for the online money games.</p>.<p>The Act seeks to prohibit advertisements related to online money games and bars banks and financial institutions from transferring funds for any of such games.</p>.<p>Advertising of money games can attract imprisonment up to two years and/or a fine up to Rs 50 lakh. Facilitating financial transactions related to money games can lead to imprisonment for up to three years and/or a fine of up to Rs 1 crore.</p>.<p>Repeat offences attract enhanced penalties, including 3-5 years' imprisonment and fines up to Rs 2 crore.</p>.<p>Meanwhile, major online money gaming players have complied with the government's move and voluntarily announced the shutdown of their money-based gaming services. The challenge for the government, however, remains in checking foreign-based online money gaming and betting platforms. </p><p>As per an estimate, 45 crore people in the country have lost around Rs 20,000 crore in a year after getting addicted to online money games.</p>
<p>New Delhi: The government will notify the Online Gaming Act very quickly, a top government official said on Monday.</p>.<p>The Promotion and Regulation of Online Gaming Act, 2025, <a href="https://www.deccanherald.com/india/parliament-passes-online-gaming-bill-to-ban-all-forms-of-money-games-3690700">passed by the Parliament on August 21</a>, bars all forms of online money games while promoting e-sports and other online games.</p>.<p>"This is something which will come into effect very quickly and we are taking all necessary steps in that regard," Electronics and IT Secretary S Krishnan said on the sidelines of an ICEA event on semiconductors.</p>.<p>The act has received the President's assent. The act will come into effect after it is notified by the government.</p>.Karnataka High Court asks Centre to respond to plea against Online Gaming Act.<p>Last week, Banks and Fintech firms, in a joint meeting with the Department of Financial Services and the Ministry of Electronics and IT, have asked for detailed guidelines to implement the provision of the bill and a reasonable time for putting up system in place to check transactions for the online money games.</p>.<p>The Act seeks to prohibit advertisements related to online money games and bars banks and financial institutions from transferring funds for any of such games.</p>.<p>Advertising of money games can attract imprisonment up to two years and/or a fine up to Rs 50 lakh. Facilitating financial transactions related to money games can lead to imprisonment for up to three years and/or a fine of up to Rs 1 crore.</p>.<p>Repeat offences attract enhanced penalties, including 3-5 years' imprisonment and fines up to Rs 2 crore.</p>.<p>Meanwhile, major online money gaming players have complied with the government's move and voluntarily announced the shutdown of their money-based gaming services. The challenge for the government, however, remains in checking foreign-based online money gaming and betting platforms. </p><p>As per an estimate, 45 crore people in the country have lost around Rs 20,000 crore in a year after getting addicted to online money games.</p>