Regulate, definitely; outright ban, no, na ah.

I covered the Indian government response to Cryptocurrency for CoinTelegraph here: https://cointelegraph.com/news/whats-the-plan-government-bitcoin-or-no-bitcoin-for-india

But the straightforward answer is that the government is trying to scare down the Cryptocurrency market in India by coming up with these press releases and comments, without having to take a formal legal action. It is clearly not working, though, and the market is constantly increasing. Regulating Crypto is not an easy task, and the government is likely to keep playing softball like it is doing now.