cryptocurrency: Banks warn its customers of curbs if they deal in cryptocurrency

Leading Indian banks are clamping down on customers using bank accounts for cryptocurrency transactions.

Over the past few months, HDFC Bank and State Bank of India – to name two such lenders – have sent official notices to many customers warning them of curbs – including permanent closure of accounts.

“Kindly clarify the nature of these transactions…within 30 days,” according to one such communication from HDFC Bank.

A letter from SBI Card