The Reserve Bank of India replied to an enquiry looking for explanations for its rationale to proscribe banks from dealing with the cryptocurrency industry and acknowledged that it did not conduct any research anterior to its precludable action.
Varun Sethi, a domestic lawyer filed a Right to Information (RTI) request which clearly asked the Reserve bank of India for the reasons behind the April ban that manifestly prohibited all regulated financial institutions from offering services to all cryptocurrency businesses.
Read the details in the article of Coinidol dot com, the world blockchain news outlet:
https://coinidol.com/cryptocurrency-trading-banned-by-india-central-bank/
