We have received tips in the past day about a 'Netbanking' payment option appearing on the Play Store in India. This allows users to pay directly from their bank account, with numerous Indian banks supported. Prior to this addition, Indian users could only pay with debit/credit cards or Play Store gift cards.
The above screenshot shows Netbanking as a new payment method when buying content in the Play Store. Let us know in the comments if you spot it on your device.