Bitcoin's story in India has been punctuated by cautions from the apex bank and finance ministry. They have become more frequent now when prices have touched meteoric heights
The recent surge in exchange rates of cryptocurrencies including bitcoin has at one hand drawn interests of the investors, whereas, on the other, has alerted the regulatory authorities to sound cautions against it, repeatedly.
In at least three instances, the Reserve Bank of India has warned the investors regarding the "potential economic, financial, operational, legal, customer protection and security related risks” associated with the trade of cryptocurrencies.
http://www.moneycontrol.com/news/business/markets/bitcoin-and-india-a-historic-high-and-a-series-of-warnings-from-rbi-and-the-government-2457417.html
