When RBI released a statement which meant it barred banks and other financial institutions from dealing with virtual currencies such as Bitcoin, everyone who're invested felt shocked. You can read that news here. Then came some news like this which said there are no problems in doing transactions with bank and exchanges.
But I got convinced only today when I sold 0.01 bitcoin through Zebpay exchange and got money deposited in My State Bank of India bank account. As of now, I can say that there're no problems when you convert Bitcoin to INR in India.
