That is a disaster for the investors from india. I think they lost so many money.
Its just false news circulating, the banks on the other hand are prohibiting their customers from using their credit cards from purchasing bitcoins and other cryptos.
It is not false. The attitude of the government of India towards crypto-currency is extremely hostile. Hundreds of thousands of users have been issued with income tax notice and some political figures have even talked about the possibility of charging Bitcoin users under treason.