There is no Cryptocurrency ban in India as of now. The Finance Minister said in a statement that Bitcoin is not a legitimate means of payment, but does not call it illegal. The government welcomes Blockchain technology in its payment gateway system. You are still seeing some ICOs born from India, and unfortunately you are starting to doubt their project. They make ICO easily just to earn money and this is bad. This may be the reason why India forbids cryptocurrancy when in the future this technology will be a good solution.