If OP is still looking for a place to buy or sell bitcoin for INR then localbitcoin is the only place as far as I know because most of the exchange doesn't support fiat withdrawal from india due to restrictions from RBI so get bitcoin through traders on LBC or us forum to find a trader with trusted escrow.
Localbitcoins is a p2p exchange. So there's no way they will send you fiat money to your bank account. They only hold your cryptos and not fiat money. What you are saying, is possible with exchanges like WazirX, Unocoin or Coinswitch Kuber, not with localbitcoins.
Also as the current legislative discussion around bitcoin is not really favorable, I would suggest to stay away from such exchanges that uses bank account transfers.