I think this is once again one of those instances where people are running with a story that are factually wrong. India has not
said that it is banning Crypto currencies, but nothing is stopping the media to run with that story. The FUD wagon is running
on no brakes now.

The sites that I have found reporting on this, is by far not anywhere close to reputable media outlets.
Time will tell if I am wrong.
Forbes, CNBC, Bloomberg, Reuters, etc. are running the story and quoting a statement released by the Reserve Bank of India. I think its real enough. See the actual press release below.