Hi Friends
As i mentioned in my last post that "PayPal Temporarily Stop Some India Services". PayPal has temporarily withdraw the service from India which includes:
- Personal Payment to or from India
- Transaction from PayPal to Indian Bank
The reason for PayPal to withdraw some services is that RBI (reserve Bank of India) asked some documents which PayPal failed to supply.
People in India who do transactions using PayPal are heavily affected. They are not able to withdraw money and can’t get personal payments.
According to Paypal’s Spokesperson Anuj Nayar:
“I’m writing to let you know that personal payments to and from India and transfers to local banks in India have been suspended while we work with our business partners and other stakeholders to address questions they have about the service.
During this time, customers can still make commercial payments to India but merchants cannot withdraw funds in Rupees to local Indian banks.
We’re trying to resolve the situation as quickly as possible and we’re really sorry for the inconvenience that this may cause our customers in India and around the world”.
http://nitinmaximumhit.blogspot.com "We brand our clients to stand out from the competition."
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Good to see that these western companies can't take India for granted for long. RBI should ensure that they either comply with Indian rules else get lost from the thirst largest economy of the world.
ReplyDeleteDear Hemant
ReplyDeletePayPal or Ebay is not new to India, I am wondering why RBI took so long time to take any decision/action.
Nitin
That's only jealous of western countries to hold our services, as India is emerging as one of the leading IT hub and most of the IT professionals engaged in the field of web designing, seo, content writing, etc are heavily using paypal. We are growing but the western countries can't be able to tolerate this fact.
ReplyDeleteSmart
ReplyDeleteI can understand your feeling but my dear friend competition can not be counted in this way. RBI took step that's why PapPal has to withdraw some services, as taking personal payment through PayPal is considered as a "HAWALA"(Illegal income) by RBI. So certain norms need to be set for same.
India Users can use Xoom for withdrawing money from PayPal to their Local Bank Account
ReplyDeletehttp://qualitypoint.blogspot.com/2010/02/india-users-can-use-xoom-for-withrawing.html
Hi QPT
ReplyDeleteThanks for sharing xoom !