As of now, there is no official ban on Bitcoin in India.
People are free to buy and sell Bitcoin, however, RBI has not given any directive to banks to process Bitcoin-related transactions. This means that people deal with Bitcoin at their own risk.
While there is no ban on Bitcoin, the government is reportedly looking into regulating the cryptocurrency. A committee headed by Subhash Garg, the secretary of the department of economic affairs, is currently working on a report about regulating cryptocurrencies.
The committee is expected to submit its report by the end of July.
In the meantime, people can continue to buy and sell Bitcoin in India. However, they should be aware that the government may take action to regulate the cryptocurrency in the future.