Fintechs also marked the immediate settlement pressure that they would experience under the law
Fintech companies and banks asked specific guidelines and sufficient time on Friday to comply with the new online gaming legislation. The clarifications were sought from the Ministry of Electronics and Information Technology (Meity) and Reserve Bank of India (RBI) during a meeting of the stakeholders to discuss the provisions of the Online Gaming ACT 2025 and to understand how to implement it.
The industry has also expressed concern about customer returns, returns and the treatment of current accounts after the prohibition on Real-Money games (RMG). Fintechs also marked the immediate settlement pressure that they would experience under the law.
Sources that are familiar with the meeting told line that the meeting was chaired by M Nagaraju, secretary, Department of Financial Services, Ministry of Finance; and S Krishnan, Secretary, Ministry of Electronics and Information Technology (Meity) for ‘Familiarity with act provisions’. Top money lenders, including SBI, HDFC Bank, Icici Bank and Axis Bank, together with payment body NPCI and leading fintech companies Phonepe, Stripe, Razorpay and Payu were also present during the meeting, said sources.
“The meeting was about understanding how they propose to implement the law and transitional measures, possibly challenges they expect and any suggestions for the rules,” said a source.
Pay back
Fintechs said that repaying customers and coordinating returns requires sufficient liquidity buffers and to maintain flexibility to maintain balances to facilitate smooth transactions.
Banks looked for clarity on the activities in the current account, about making a distinction between legitimate salary and supplier payments versus RMG-linked transactions. Without such clarity, they said that blocking accounts could disrupt normal business activities.
“They were usually hospitable. Bleeding to implement. Looking for specific and detailed guidelines from RBI. They have searched time for the backend -compliance mechanisms to settle,” said a government source.
The meeting was held almost and went on for more than an hour.
Meity officials also emphasized that customers are not punished under the law.
“The focus is on limiting the money flow to forbidden platforms, not on treating players such as criminals. Financial institutions should not freeze user accounts or cards, simply because individuals have been handled with gaming platforms in the past,” said sources.
The center has banned all forms of online money gaming by setting up the promotion and regulation of online gaming law after repeated complaints of people dying due to suicide due to heavy monetary losses.
The government is informing the law, after which it will consider rules to implement them.
Published on August 29, 2025
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