As the 3-months final notice given by Reserve Bank of India to banks is about to end,Zebpay , One of the biggest Cryptocurrency exchange in India , has declared that users are "welcome" to cashout their balance in INR as long as its bank account is functioning.
The exchange said If there is a discontunity in banking services and if customers are not allowed to withdawl their funds,in this case they will not be responsible.
“Since our bank accounts are functional at the time writing this announcement, you are welcome to place a withdrawal request for your rupee balance. If you do that, we will endeavor to return your rupee balance to your bank account as soon as possible, so long as our banks support such withdrawal,” Zebpay said in a press release.
RBI, in a notice issued in April, with respect to its regulation has banned from conducting any business with concurrency firms. The central bank had given a final notice to banks to “discontinue all it's treading and businesses related to this industry.” The three month’s period is going to last on July 6.
Against this ban,Concurrency firms had already filed petitions in Supreme court,"Out industry has already filed allegation against RBI decision as we think it is counterproductive and against Indian people interests," Zebpay said.