@Uthara1 What is acceptable for payout preferences varies from one country to the next, so I couldn't say what is acceptable in India. In my case, I was only given a choice of Paypàl or my bank account. And I don't think they can deposit to a savings account, only a checking account. Can you open a checking account at your bank? And what you need to enter isn't your debit card number, but your actual bank account number, which are two different things. But I don't know how bank accounts work in India.
If you can't figure it out, contact Airbnb customer service directly and they should be able to tell you what the problem is.