Kotak Mahindra Bank, which is the second largest private bank in India by market value, is threatening to close accounts of those who are engaging in cryptocurrency transactions. This was reported by a Twitter user, who, on January 8, posted a screenshot that allegedly came from a bank communication. The screenshot references regulations set forth by the Reserve Bank of India, which is the country's central bank, relating to the terms and conditions for Indian bank accounts. It states that account holders must agree not to engage in any transactions involving digital currencies such as Bitcoin and that the bank has the right to close any account that violates this condition. In April of last year, the Reserve Bank decreed that the country's banks could no longer provide any services to cryptocurrency businesses. At the same time, though, the country has not definitively set forth any legal statues regarding digital currencies themselves or their use. Since the Twitter post, a number of other Twitter users have posted additional warnings about cryptocurrency use that have allegedly come from the bank. One of these warnings came from a screenshot of an ATM machine, and it reproduces the original warning while also stating that digital currencies are not legal tender in India and that their use has not been granted permission by any government regulatory agency. It also warns that there is no government protection for those who use such currencies. In response to the threats, one Twitter user has called on Indians to initiate a bank run, as a form of protest similar to those currently taking place in France against proposed government reforms. The stance of the Reserve Bank against cryptocurrencies has not been without controversy. After the decree came into force last summer, many in the country appealed to local courts, believing that the decree contravenes the country's constitution. This month, the Reserve Bank published a report that stated that digital currencies pose no threat to the country's financial stability. But the government is still warning the public against using cryptocurrencies and some politicians have even called for their ban.