India, Aug. 20 -- The Union cabinet led by Prime Minister Narendra Modi has okayed the draft bill seeking to outlaw all forms of online games involving real money, which was tabled in Parliament on Wednesday.
If passed, the law will give a major blow to India's Real-Money Games (RMG) industry which has drawn billions in investment and provided thousands of jobs and attracted nearly half a billion players all across the country.
Real-money gaming refers to online platforms where users pay to participate in games and stand to win cash prizes. Any game that involves monetary stakes-whether based on chance or skill-falls under this category.
The draft also proposes a blanket ban on banks and payment firms from processing related transactio...
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