What would be the purpose of banning crypto the first time
Their purpose of banning crypto in the first place was because they see crypto as a threat to their national currency and power. However, I'm surprised that the Indian government decided to raise this issue again after they have supported bitcoin because India is also kind of centralized country but crypto related company CEO are already fighting against the new bill.
Surely in next few days some new good news is coming because if authorities going to ban this then its going to hurt in many ways few days back two biggest crypto related exchanges announces they are going to invest millions of USD in India for better security and better environment of crypto trading so government will do some middle way as they don't want to lost this all.
I think they aren't going to ban anything too. Even for government there is much more to lose than to win with a bitcoin ban. But I see there is a lot of politics going on the background of this discussion in India. Some sectors want its ban, while the supreme court doesn't agree on this.
What I see is that even big fishes connected to government may have be into crypto universe, so it creates a division of opinions on this matter, in which each one defends their interests, and consequently creating an indecision on what to do towards bitcoin.