With latest update on zebpay-app it looks like zebpay is closing down their operations in India soon due to the RBI directives. Well the writing was on the wall since last few months as RBI and Indian Govt maintained their stern attitude towards the crypto in general. With blanket ban on crypto to cash conversion it become very difficult for bitcoin and crypto community to survive.
I dont think so closing down of Zebpay in any way implies the end of cryptocurrency market in India. so what if what exchange is closing down, you have lot of foreign exchanges which you can use for cryptocurrency trade. I know our government is showing restrictive attitude towards crypto but they still had not banned the market completely because at somewhere they are aware of the cryptos potential.