India is yet to come out with a mandate deciding the future of Bitcoins in India. This information of bitcoin ban in India is nothing more than FUD. The final stand of Indian govt on Bitcoin transaction is not yet out. However, in the recent news, SEBI chief, Mr. Ajay Tyagi stated that Crypto regulations in India should be out soon and the role various regulators are being finalized. So its clear that they are planning to experiment with it and has taken a wait and watch approach.