RBI has banned buying cryptocurrency via banks or e-wallets with immediate effect. So you will not be able to buy cryptocurrency via banks or e-wallets etc. in India anymore. Reserve Bank of India (RBI) has banned crypto with immediate effect from "dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies". The central bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual currencies.