To be blamed most is the India's central banks failure to put monitoring mechanisms in place. learning from this incident they ought to tighten their rules. This is a lesson that no investment is 100% safe be it crypto or not.
Absolutely! Not only the Central Bank of India is to be blamed but I guess the Government of India and all its regulating bodies that have failed to do their part should be blamed as well!
But on the brighter side, I assume the Indian Government will further strengthen and improve their regulations and learn lessons from this incident to prevent it from ever happening again in the future or at the very least minimize the possibility of its occurrence - thus making their banking system more robust to retain the confidence of its stakeholders.