Indian Bank Closes Account Because of Crypto-Activity Report

The first digital bank of India, Digibank, closes account due to crypto-related activities. This news became available in Twitter, in a tweet posted by a user with nickname Indian CryptoGirl. The same user has recently made several posts in connection with restrictions imposed on all account holders by another Indian bank, Kotak Mahindra Bank. This is the second largest Indian bank in private sector.

Both tweets are connected with the local prohibition by the banks of crypto-related activities. The prohibition was imposed by the India`s Central Bank, the Reserve Bank of India, in April previous year.

According to the posted tweet, the bank has blocked the account of the mentioned user after allegedly detecting transactions identified as connected with cryptocurrency. The bank sent a notification about the prohibition to perform any further activities with the mentioned account. As well, the user is expected to close her account within 30 days from the notification date.

The notice mentions, that the bank has warned public about risks connected with any cryptocurrency activities. As well, there were sent messages with warnings that no cards issued by the bank should not be used for any deals connected with cryptocurrency.

The tweet received a lot of replies. Other uses were stating, that these cases are not the only ones, and this bank is not the only one that took this kind of actions. A number of Indian banks has blocked accounts of some users with the same recommendation: to close accounts within 30 days from the day of the notification receipt.

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