NZ Cricket chief executive David White says the Black Caps are pressing ahead with the tour as planned, for now.

The third test between India and New Zealand looks set to go ahead as planned following a day featuring as much chaos and confusion as a Kolkata intersection.

The Black Caps woke on Tuesday to reports their tour of India was over because the Board of Control for Cricket in India's (BCCI) bank accounts had been frozen.

Just a few hours later, both New Zealand Cricket boss David White and Kiwi coach Mike Hesson said they were not seriously concerned the reports were genuine and confirmed the team would be heading for Indore on Wednesday as planned.

Phil Walter/ Getty Images NZ Cricket boss David White has been unable to make immediate contact with the BCCI over allegations the Black Caps' tour of India has been cancelled.

It was also understood the Indian team was also pressing on with similar travel plans.

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"We are just waiting to hear back from the BCCI," White said. "We are seeking clarification from them but we haven't heard from them as yet.

"We are planning to get on a plane tomorrow to travel to Indore to prepare for the third test."

Although NZC, or anyone for that matter, had received that clarification from the BCCI by Tuesday evening in Kolkata, statements made by Justice Rajendra Lodha indicated the third test should start on Saturday as scheduled.

RUPAK DE CHOWDHURI/REUTERS New Zealand's tour of India could be cancelled after banks were ordered to freeze the accounts of the Indian cricket board, the BCCI.

The man leading a panel looking to clean up cricket in India, Lodha told India Today later on Tuesday morning that the banks had not stopped the flow of money for routine matters, such as international matches.

Lodha said the directive of the Supreme Court should not affect the New Zealand tour, which also included five one-day internationals.

"No question of calling off the India vs New Zealand series. No direction from our side to cancel the ongoing series.

REUTERS India put the pressure on Black Caps batsman Henry Nicholls in the second test, in Kolkata.

"Our directions will not affect BCCI's day-to-day matters.

"So far as our email and directions are concerned, it does not restrain BCCI from incurring routine expenditure and expenses on games, matches, series etc.

"I'm clarifying that BCCI should not have any doubt that they are free to deal with their bank accounts so far as game and routine matters are concerned. There is absolutely no restraint direction by us."

Lodha went on to explain the committee had only asked for the BCCI accounts to be frozen in regards to two specific payments from the board to its state associations.

Also supporting the likelihood the third test would not be cancelled were comments made by hosts the Madhya Pradesh Cricket Association to the Times of India.

"We have not received any intimation from the BCCI till now and are going ahead with our preparations," MPCA's honorary secretary, Milind Kanmadikar, said.

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Speaking to media on Tuesday, BCCI boss Anurag Thakur would not confirm or deny the reports.

"Really unfortunate that all BCCI accounts have been frozen, there can't be any tournament without money," he was quoted as saying by Indian Express.

"Cricket cannot run without money. We don't take money from the government. We are not allowed to make payments.

"I can't say anything about the India–New Zealand series. Team India is number one today, when we are financing state boards, questions are being raised."

Indian media have previously reported their cricket board's days are numbered after the Lodha committee asked the Supreme Court to 'supersede the present office bearers' and appoint a new panel of administrators with immediate effect.

The Lodha committee had made a number of binding recommendations on July 18 to reform the way the BCCI ran cricket and was angered that the BCCI was cherry-picking the directives.

The disbursement of funds, contrary to an order to only deal with 'routine matters', appears to have been the final straw for the committee.

The committee was formed in January 2015 to determine punishments for those involved in the 2013 IPL corruption scandal, and to propose reforms to prevent conflicts of interest and sporting fraud.

Among the steps the BCCI needed to take by September 30 were:

* Establish 15-day gap between national fixtures and the IPL

* Amend anti-corruption codes of IPL

* Amend player-agent registration norms

* Establish transparency of tenders

* Begin the creation of a players' association

The matter is due back in the Supreme Court on October 6.