On Thursday, the government could notify new rules for online gaming companies in an attempt to regulate the industry and protect consumers, especially young children. The rules will require online gaming companies to become self-regulatory organisations and establish grievance redressal mechanisms.
The government has emphasised the need for self-regulation in the industry, stating that online gaming companies must verify their customers' identities and ensure that their policies for refunds and winning amounts are clear and transparent.
In addition, the new rules require online gaming companies to conduct KYC (know your customer) checks of players, and to obtain the permission of parents for children under 18 years of age. The companies will also need to provide their registration numbers and have an office in India to offer online games.
The government's decision to regulate the online gaming industry comes amid growing concerns over the impact of gaming on young children. The rules aim to prevent the promotion of game betting or gambling and to protect the interests of players.
The government has stated that self-regulation will be a key factor in ensuring that the industry is properly regulated and that players are protected. Companies that fail to comply with the new rules may face penalties or fines.
The online gaming industry has seen a surge in popularity in India in recent years, with millions of people playing games on their smartphones and other devices. The new rules are expected to have a significant impact on the industry and may lead to some companies restructuring their operations to comply with the new regulations.
