If the private banks can embrace the blockchain , the government may likely allow bitcoins and crypto-currency in no distant future. could be they are developing suitable infrastructure for it 

ICICI Bank will focus specifically on Blockchain systems to create a stronger experience for its customers. This news is so sweet, especially to my Indian friends. Good news, it will raise bitcoin prices and open to institutional investors and traders

Kotak Mahindra Bank, India's leading private bank based in Mumbai, has recently announced a partnership with RippleNet, the blockbuster network of Ripple, to improve its international remittance service immediately.
According to the announcement, Kotak Mahindra will use xCurrent technology of ripple to speed up international transactions. Previously, a transaction in a manner usually takes a few days, but the solution of the ripple allows the time to money down to a few minutes. Bank customers will have the opportunity to track the process of making payments across borders at a much lower cost.

Kotak Mahindra Bank, India's leading private bank based in Mumbai is using the country's strong market presence to drive the use of blockchain technology, create a larger pool of wealth for their economy and the future of their economy and a sound customers experience. It is a very powerful country that has the zeal to change and conform to the modern world and its doings. The use of blockchain technology will advance India far ahead in developing their market presence and it's friendliness in economy.

Blockchain has shown itself well in the cryptocurrency market, which is also a kind of financial market. In this regard, it is quite logical if banks also begin to introduce this technology into their activities. It seems to me that this will have a positive effect on the work of banking structures.

That is the way to go and the bank is proactive and they will reap the fruit of their forward thinking by incorporating blockchain  technology in their operations. This is the first Indian Bank to embrace blockchain technology and very soon more of the other banks in India and surrounding countries will also become blockchain compliance. This will really improve their business as the will be more gain when all loop holes are plugged and the system becomes difficult to manipulate because of blockchain and introduce fraud.