@firepower After reading important points of writ petition it seems like Indian Exchange are in attacking position, Before making any statement RBI did not study in-depth about Cryptocurrency. As we knows that more and more financial institution testing on Ripple XRP or Stellar Lumens for faster cross border payments.
What if major financial institution switch to Blockchain Technology , How Indian Banks will communicate with Those financial Institution in term of Financial Transaction? This mean RBI did not understand future impact.
If Government stick with ban on Cryptocurrency , it will isolate India with rest of the country. If Cryptocurrency regulation is an issue then RBI can regulate centralize Cryptocurrency like Ripple XRP.
As per the statement of RBI it seems like that they know only one Cryptocurrency which is Bitcoin. Government send official to abroad to study about Cryptocurrency and Blockchain implementation to other countries, it seems like that they were went on holiday tour on government money.