Despite the recent doubts raised by RBI’s advisory on Bitcoin, BitQuick.in seems to be challenging RBI by starting an exchange in India.
Though RBI has not come up with a specific guideline and hence it is true that BitQuick may be right in saying that there is nothing illegal about their activity, the tone of their statements are not in good taste. It is in the nature of challenging RBI and could have an adverse impact.
Naavi has been persuading RBI to come up with a proper guidelines to remove the uncertainty but does not support the challenge mounted on the Indian regulator.
I hope this arrogance is curbed in the larger interest of the Bitcoin community in India.