Online games need approval if monetary gains involved
Financial Express Mumbai|April 07, 2023
ONLINE GAMES THAT involve money will need approval from self-regulatory organisations (SROs), according to the final rules framed by the ministry of electronics and IT (MeitY).
JATIN GROVER
Online games need approval if monetary gains involved

But companies that do not deal in money-related games won't need any such approval. With this move, Meity has steered clear of the earlier nomenclature, which categorised online games into games of skill and games of chance.

Simply put, multiple SROs, not the government, will determine whether a real-money game is permitted to operate or not. Terming the regulations 'light touch', the online gaming industry welcomed the rules for providing much-needed clarity.

An online real-money game is where a user makes a deposit in cash or kind with the expectation of earning on that deposit. "These rules don't deal with all the nuances and the sophistication of games of chance and games of skill. We have bypassed that and laid out a basic principle that the moment an online gaming trespass into involving betting and wagering regardless of the core content of the game, then it falls foul of these rules," said Rajeev Chandrasekhar, minister of state for electronics and IT.

"You don't have to go to SRO if you are only a gaming company, but only when there is money involved in the game," he said. Chandrasekhar said they will initially start by notifying three SROS with more to be notified later.

The structure of SROs will involve government-approved entities, including people with experience in online gaming, an educationist, an expert in the field of psychology, individuals dealing with protection of child rights, among others.

Bu hikaye Financial Express Mumbai dergisinin April 07, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Financial Express Mumbai dergisinin April 07, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

FINANCIAL EXPRESS MUMBAI DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Financial Express Mumbai

Murdoch ally helps Ambani build media empire in India

SOHEE KIM PR SANJAI

time-read
3 dak  |
April 18, 2024
Financial Express Mumbai

Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?

GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.

time-read
2 dak  |
April 18, 2024
Financial Express Mumbai

Nestle adds sugar to infant milk and cereal, finds report

A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

India-made Daimler's electric mini truck to hit the road soon

INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.

time-read
2 dak  |
April 18, 2024
Samsung eyes ₹10,000 cr from India TV biz this year
Financial Express Mumbai

Samsung eyes ₹10,000 cr from India TV biz this year

SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

Microsoft AI Copilot speed boost for coding

WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

US, China debt pose risks for global public finances: IMF

THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

Language models in consumer tech

This move is designed to ensure better user experience & privacy

time-read
2 dak  |
April 18, 2024
Financial Express Mumbai

'Data centres' energy use doubles every four years'

Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.

time-read
2 dak  |
April 18, 2024
Financial Express Mumbai

Vi FPO: Foreign players invest big; about ₹5,400 crore raised

GQG, Fidelity buy almost 40% of the anchor investor portion

time-read
1 min  |
April 18, 2024