<h1>Banks seek detailed guidance and extra time to comply after law banning online money gaming and transaction facilitation</h1> Banks and financial services firms asked the central bank for detailed implementation guidelines and additional time to comply after the government enacted the Promotion and Regulation of Online Gaming Act, which bans online money gaming, bars banks and financial institutions from facilitating related fund transfers, and prohibits advertising such games. The Act prescribes penalties including up to two years' imprisonment and fines up to Rs 50 lakh for advertising, up to three years' imprisonment and fines up to Rs 1 crore for facilitating transactions, with enhanced penalties for repeat offences. Transitional measures, backend compliance challenges, voluntary shutdowns by domestic operators, and enforcement against foreign platforms were discussed.