Currently, I'm thinking of keeping the current logo but proceeding to little changes. I'll just change the gray lines into colors. And maybe add the acronym: IBA, that stands for India BuzzerBeater Association.
But regarding to banner, I wish to proceed to an entire change. It can be interesting to add an emblem. For example, the following one
(http://en.wikipedia.org/wiki/Emblem_of_India). The colors can be a mix between orange, white, green and gold.
If you have any ideas, let me know. I really wish to instate the identity in which you'll recognize yourselves.