Quote
“This means that banks will not probably give loans to cryptocurrency exchanges. And the transactions will also get affected,” said Shubham Yadav, co-founder of of Coindelta, another cryptocurrency exchange. “However, the silver lining here is that they still haven’t banned it fully.”
-the bold line that was part of the article is most likely a candle giving light in the dark, it means crypto can still operate on India.
Only for three months (time period about RBI not to support crypto), but I does affect countries to tighten also their bank regulatory to BTC.
Also good part and the best part is the part of "not to ban crypto" inside the country, second good part, they can invest or loan money from private institution for the time period...
I am sure you have misunderstood the whole statement. So I encourage you to read what Bloomberg has mentioned about this situation.
www.bloombergquint.com/business/2018/04/05/rbi-bans-regulated-entities-from-dealing-with-virtual-currencies.amp
The 3 months timeline was given to banks to unwind their positions from those entities who are dealing cryptos. That essentially means banks now has the legal right to freeze anyone's account if they think that individual or that company is dealing in cryptos. There is no silver linings, not at least I can see.
The sites that I have found reporting on this, is by far not anywhere close to reputable media outlets.
