Reserve Bank had given three-month long deadline to banks and at last today Reserve Bank of India's (RBI) deadline given to banks to snap the ties with entities that deal with cryptocurrencies finally ends today. Exactly three months ago, India's central bank had instructed the banks to end the relations (if any) with cryptocurrency-driven companies. The RBI released the circular on April 6 that was challenged in the Delhi High Court, which initially refused to grant an injunction. Even the Supreme Court declined to issue a stay order on July 3. The matter is still before the Supreme Court that will hear the matter on July 20. Ever since the ban was imposed, there was sentiment that the cryptocurrency market will survive the RBI ban.
