Previously Banks in India working under the rules framed by the central bank i.e. Reserve Bank of India ; the banks were instructed not to allow their customers debit their accounts maintained with the banks for purchase of crypto currency.

Against this order; one suit was filed in the Supreme Court of India.  During one hearing the Reserve Bank of India admitted that the instructions were given to check illegal transactions in the country.

Now Bank has admitted that regulation of crypto currency is their necessity.  This admission indicates that transactions will not be restricted but will be regulated.  So again the business will start.  Though final hearing is in September this year. 

I am very much positive that Central Government will definitely allow the transactions to take place but definitely will like to impose certain rules and regulations to stop money laundering; terror funding etc. Prime Minister Mr Modi is very much in favour of digitalization of money in India; so future of crypto in India seems very bright.
https://www.ccn.com/ban-u-turn-indias-central-bank-admits-cryptocurrency-regulation-is-necessary/