Update:
WazirX announces INR withdrawals will resume on Aug. 26And I checked the update myself, yes now the withdrawal of INR is available on wazirx, but you can only withdraw up to 2/3 of your balance means your 34% will be frozen for a while, but it's good news so that anyone who had their INR stuck with the exchange can withdraw them now.
BTW, still the deposits and withdrawals of cryptos are still not available.
That is one heck of news and I understand why they have restricted the withdrawal. What the users are getting is far better than getting nothing at all which could have been the worst news. I am okay with halting the deposit and withdrawal of the cryptocurrencies as they are not taking any risk as of now. But, it will not be appreciated by those users who I think are in fewer numbers who were using this exchange for trading.
In a way they have announced to the community that they will be shutting down their exchange in the future. As I have written earlier what happened was a insider job as this exchange did declare in the past that they have a few months to continue their existence. Last year the topic that was published by a notable cryptocurrency media outlet was:
Indian Crypto Exchanges Are in Survival Mode, Trying to Extend Their Runways