PS. RBI recommended a ban on crypto but didn't go through with it. They ring fenced banks from serving Cex'es à la Operation Choke Point. This was later overturned by courts.

Source: https://twitter.com/i/web/status/1463178458264047616

Archive: https://web.archive.org/web/20211124023529/https://twitter.com/Sootradhar/status/1463178458264047616

Tweet Reference: https://twitter.com/cryptohatelog/status/1714744969469083778