The central bank of India (RBI) today, directed all the regulated bodies to not to provide services to any individual and business entities that use or deals in virtual currencies within a specified time period i.e. about 3 months.
RBI bans regulated entities to deal with crypto users
Reserve Bank of India (RBI) has barred the regulated entities including banks from providing services to any individual or business entity that deals with virtual currencies.
Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.
People will still use bitcoin in person-to-person transactions, in order to escape capital controls. They just won't be able to use the banking system to do it - they'll have to use cash.
yes people are using bitcoin it does not matter what the position of bitcoin is in our life, we are earning with bitcoin same as us people of India are getting income from bitcoin so why would they let this easy war of earning be go, I think bitcoin use does not really matter for the promotion of bitcoin in some community as already no such banking was heartedly accepting bitcoin, so no matter if they accept bitcoin or not but to stop the growth of bitcoin in any country is not very possible.