YES I have also heard about this back in December when news just Popped on my feed that fintech company called cashaa has raised 5 million dollar from Dubai based company Olex to start Crypto banking services. See seriously i think with ever growing fintech sector of india this can be the future of crypto in India. But concern of risk is always there in sort of services and irony is one of it's branch or office in east delhi has already been hacked once and many users had lost there money.
sources:-
https://help.cashaa.com/knowledgebase/cashaa-india-otc-hack-update-follow-up/To be very honest legally speaking I would recommend you all to stay away from this until it gets an RBI NOC to operate
Soo I agree with this that we need to be really carefull while investing in such things.
but again if this turned out well and i have read that CEO of the company is in talk with RBI authority to seek legal permissions for banking than this can be revolutionary.
source:-
https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/cashaa-raises-5-million-from-dubai-based-o1ex-a-blockchain-investment-firm/articleshow/77888859.cms[/quote
Every CEO says this. This isn't anything new. Moreover trust me They won't get permission until a full fledged crypto act comes into place by parliament. Will you give your money in such a bank when the bank isn't even governed by any legal framework? They surely can make a huge impact as a wallet but I will be too surprised if they get a banking license you need a loan book worth rupees tens of thousands of crores to get a banking license.