I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?
RBI has never banned bitcoin from India and moreover reserve bank of India could not ban it , the only thing that RBI can do is to stop people to use bitcoin on domestic site and thats what RBI did, but your second news is entirely correct that RBI also caution people for the use of bitcoin and moreover they even declared that they are not responsible for any kind of loses regarding bitcoin, so India there is no proper regulations for bitcoin in indi because in India bitcoin is still a decentralised crypto currency.