---

UPI Transactions Of INR 50 On Gaming Apps To Be Banned

All online gaming Unified Payments Interface (UPI) transactions under INR 50 will now be permanently banned by the National Payments Corporation of India (NPCI), state news reports. The new law has been implemented to moderate the volume of UPI Payments that has increased during the pandemic. This surge was responsible for many bank outages.

There has been a rise in small-ticket transactions within gaming platforms in the past few weeks. One of the reasons for this could be the start of the Indian Premier League on 9 April. Fantasy sports platforms like Dream11, Mobile Premier League (MPL) allow users to create their own teams. As cricket is one of the top sports on these platforms, there is always high usage of fantasy sports applications during the IPL season.

ALSO READ: TORF Urges Govt To Issue Licenses To Online Rummy Operators

However, the gaming industry has already started to explore the different ways to appeal the ban. For this process, they have approached the NPCI through the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Internet & Mobile Association of India (IAMAI). Since the real money gaming industry operates with the help of small user transactions, the ban could potentially harm a part of their revenue generation.

While the Public Gambling Act of 1867 exists, states are still permitted to create their own regulations. While most states tend to fall back on the Public Gambling Act like Manipur, Uttarakhand, Haryana, Punjab etc., there are states that have gone ahead and outrightly banned online gaming that involves money. Among these states are Tamil Nadu, Andhra Pradesh, and most recently Kerala. 

For more news and updates, keep reading GutshotMagazine.com. Follow us on our social handles like Facebook, Instagram, and Telegram.

---

---

More News

---

Comments