'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
At 250 million unique visitors a month, MX Player has for long been in the same bracket as YouTube (454 million) and Meta (324 million) in reach.
Eyewear retailer Lenskart plans to add 450 stores in the current financial year, its fastest expansion in three years, as the company prepares for a public listing that could value it at up to $10 billion. The addition would take Lenskart's store count to more than 3,150 across 14 countries, representing a 34 per cent rise from the 334 stores opened last year.
The Karnataka Cabinet on Saturday decided to impose a ban on online gambling or betting. However, lottery and horse racing have not been prohibited.
Online gaming companies will not be allowed to engage in betting on the outcome of games under the principle laid in draft rules, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Monday. The minister said that as of now, all permissible online gaming will need to be registered with a self-regulatory organisation that will be accountable to the online gaming rules.
Operation Sindoor has not yet been formally called off. What was the crying need to send a team when it was known that there could be a match with Pakistan? asks Vice Admiral Biswajit Dasgupta (retd).
Chandrakar along with another promoter of the app, Ravi Uppal was detained and put under "house arrest" in that country late last year following the ED's request for issuance of a Red Notice (RN) against them.
Finance Minister Nirmala Sitharaman on Monday said that GST collection from online gaming has increased 412 per cent in six months from October 1, 2023, when 28 per cent tax was levied on these services. Briefing media on the decisions taken at the 54th meeting of the GST Council, Sitharaman said the status on revenue collection from casinos, online gaming and horse races after six months of implementation of 28 per cent GST was presented to the Council. "The revenue from online gaming has increased by 412 per cent and reached Rs 6,909 crore in just for six months.
The fast-growing Indian online gaming sector is facing a significant threat from money laundering, necessitating urgent steps to ensure its sustained success and protect the country's robust digital economy, a report said on Thursday. The essential measures outlined in a report by the Digital India Foundation include forming a dedicated task force for illegal operators, creating a whitelist of legal operators, combating misleading advertisements, and incorporating principles of financial integrity and international cooperation.
Since November 2022, sectoral, midcap, and smallcap funds have collectively added nearly 39 million folios, which is 65 per cent of the total additions to equity funds over the past two years.
The scale of illegal gambling and betting in India is staggering, with 1.6 billion visits recorded between October and December 2024 across four analysed platforms -- Parimatch, Stake, 1xBet, and Battery Bet.
For Luxmi, the Brew Tea deal ticks key boxes in its strategy, mainly, focusing on quality and branding.
Superstar cricketer Virat Kohli has fallen victim to a deepfake scam as a morphed video circulates on social media depicting him endorsing an online betting app with an AI-generated voiceover.
Dream11, Baazi Games, Zupee and WinZO among others are invited for the discussion with the anti-money laundering watchdog.
The Enforcement Directorate has summoned actor Ranbir Kapoor for questioning on Friday in connection with Mahadev betting application money laundering case of Chhattisgarh, officials said Wednesday.
The Enforcement Directorate may also file a fresh chargesheet in this multi-crore money laundering case soon, they said.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
Whether in cricket or business, Kohli continues to play the long game.
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
The Euro Championship kicks off on Friday with Italy taking on Turkey.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
England head coach Brendon McCullum's appearance in online betting advertisements has landed him in a fix with ECB probing if it is in breach of the governing body's anti-corruption rules.
Uppal, 43, was detained last week in that country and the ED authorities are in touch with the Dubai authorities to get him deported to India, they said.
The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
The exact case in connection with which the searches were being conducted was not yet known.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday. The official, however, said there is no data yet of foreign gaming companies registering in India since October 1. The government has amended the GST law, making it mandatory for overseas online gaming companies to register in India from October 1.
The Central Bureau of Investigation (CBI) conducted searches at the residence of former Chhattisgarh Chief Minister Bhupesh Baghel in Raipur and Bhilai on Wednesday. The agency also searched the residences of a senior police officer and a close associate of the former chief minister. The CBI is tight-lipped about the matter in which the searches are taking place. Further details are awaited. Recently, the Enforcement Directorate had conducted searches at Baghel's residence in connection with an alleged liquor scam case.
The Madras high court had said in its 2021 judgment that a new law to ban online gambling may be enacted by the government and this made it clear that the state legislature is competent to pass a Bill to ban online rummy, Tamil Nadu Law Minister S Regupathy said in Chennai on Thursday.
The decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1 even though there was demand for a review from states like Delhi and Goa, finance minister Nirmala Sitharaman said on Wednesday. The GST Council -- the highest decision making body of the new indirect tax regime that comprises Union finance minister and representatives of all states -- discussed the language of amendments that will be needed to enabling taxing online gaming, she said after the panel meeting.
The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
Punters have been given the opportunity to bet online on the semi-finals being played at Mumbai on a website owned by IPL's official digital media parter Global Cricket Ventures.
The Raj Bhavan has returned a bill banning online rummy to the Tamil Nadu assembly for its reconsideration, official sources said in Chennai on Wednesday.
The freedom of press can not be used to violate a person's 'inherent' right to reputation and investigative journalism does not enjoy any special protection, the Bombay high court has said while asking a journalist to remove online articles and videos targeting a businessman.
The Madras high court on Thursday declined to declare the entire Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act, 2022, as ultra vires the Constitution and held rummy and poker as 'games of skill.'
Why has a Reddit user's post -- where the user warns that 'even an IIM tag won't save you' -- created a storm online?
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
The Tamil Nadu assembly on Thursday once again unanimously adopted the bill to ban online gambling, weeks after state Governor R N Ravi had returned it to the government for its reconsideration.
'You think: Did I fail the people I had to let go? Did I promise something I couldn't deliver? That day (when we had to sack 70 people) will stay with me.'
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