Hey Yuvraj, Airlines in India are taking extra measures to ensure timely cancellation and refunds for passengers affected by the Covid-19 lockdown. Each airline has its separate cancellation and rescheduling policy and subsequent charges, if any. I would suggest that you visit the official website of the airline you have a ticket with for more details. Hope this helps. Stay safe! :)
The Airlines initially introduced no charges for rescheduling and for select cancellations but they will not give refund in your bank account and will give credit in your Airline account which can be used to book flights in future within 6 months.