Could Bitcoin become legal tender in India?

Hello All

Last year the Indian Prime Minister Mr Narendra Modi banned Rs 500 and Rs 1000 notes overnight. The percentage of the population that actually pay taxes they are owed is miniscule. Form what was disseminated in the media the move was meant to tackle among other things financial terrorism. Regardless millions of people lost their saving overnight. Now you could turn in your 500/1000 notes and change them to newly minted 2000 Rs notes but caps were placed as well. You could declare your "black money" but then had to pay taxes and a penalty. People just decided to dump their cash or burn it.

India has a population of over 1 billion. Population of Japan on the other hand is only 127 million. Imagine what would happen to the price of BTC if even 1/10 of the population decides to diversify its assets into BTC.

I am quite eager to see how this pans out. If made legal tender in India I can see BTC gaining very quickly to USD 5000 and beyond.

http://www.dnaindia.com/business/report-govt-to-decide-on-bitcoin-framework-next-week-2477609

I would be curios to know if anyone from this community is from India and can provide some timely information regarding this matter.

Thank you and please share.