41 launches with 2 failures seems pretty impressive to me. I think the current Soyuz (Soyuz-2) is at nearly 70 launches with 3 or 4 failures (some partial) and this is considered one of the most reliable systems made so far. (Obviously not making an exact comparison - PSLV can only lift around half or so as much to LEO as Soyuz).

Hopefully they will find the root cause and get it fixed before serious delays to the Indus lunar rover launch are caused.