http://www.thehindu.com/business/Economy/rbi-warns-against-bitcoin-use-in-india/article5497653.eceA number of India-based trading platforms and exchanges have sprung up over the last six months, catering to Indian users by allowing them to purchase Bitcoin in rupees. The RBI, however, points out that no regulatory approval has been obtained by for carrying out such activities.
“There have been several media reports on the usage of Bitcoins for illicit and illegal activities. The absence of information of counterparties could subject users to unintentional breaches of anti-money laundering,” the central bank said.
Not a very nice charge to be charged with, for operating an exchange.