It was hilarious. Coinbase called it was due to “informal pressure from the regulator”. It’s quite likely, they never had a clear bank partner in India, merely a third party fintech company as a proxy.

It’s quite unlikely a large bank will take a stance on crypto, especially as public opinion has shifted now, with many calling RBI’s stance (anti-crypto) exceptionally good in hindsight.

https://www.cnbctv18.com/cryptocurrency/coinbase-ceo-says-ex...