TheBlock
2020-03-06 15:19:54

India’s biggest banks weigh their options, hold off on servicing crypto firms in wake of Supreme Court ruling

Quick TakeMajor banks in India have not yet begun servicing crypto exchanges after the Supreme Court’s ruling earlier this week.Shekhar Bhandari, president of global transaction banking at Kotak Mahindra Bank, told The Block: “We will be guided by the Reserve Bank of India’s (RBI’s) directions on the matter and once we get clarity we will act appropriately.” The RBI is reportedly planning to file a review petition on the ruling.

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