Important Update from Paypal for PayPal India Users : Change in User Agreement

Gold,Platinum or Silver CC we get on Income Tax return documents.There is a separate cC for FD and you get 17000RS Credit limit on your 20000 RS FD.

 

Thank you mate for useful information i will try it today as i need one cc now as i have to renew or buy hosting and domains.

 

Its a huge setback for indian vendors. I am wondering thou how much business will this boost for other payment processors like 2CO and RegNow..

 

We Indians are like sitting ducks. Nobody taking action and switching over to credit cards.

I wanted to make a website that sells baby toys. Now, I can't.

This is just plain nonsense. Can anyone tell me why can't I make a website that sells baby toys? Anyone?

The Government of India is clearly fooling us.

 

How many days it wil take to get a SBI credit card against a FD?

 

The Government of India is clearly fooling us
Lol, its not something new mate, we are living it past 60 years, telgi scam, harshad mehta scam, 3g scam, kalmadi scam...list will continue to grow
Consider setting a shop on alternative checkout methods
ex. moneybookers

 

I do feel sorry for those India Business owners and customers. How will the online companies be able to process refunds or keep with any type of money back promises if they can no longer keep funds directly in their account(s)?

 

Well its not just Paypal , RBI and some scammers but its to blame all of them............
I don't like to blame and play blame games

1.) If scammers don't scam then RBI will be in peace without indulging into money affairs, so first its scammers to blame for hassles which legitimate users have to face

2.) RBI : Even though FEMA rules since 1999 for 25k usd is supported for Exports , but then banks are banks who report all transactions to them, In 1999 merely RBI must have thought that there would be huge amount of ONLINE Transactions 10 or 11yrs down the line, In 1999 i had just opened my 1st email account without even knowing paypal etc..., Now we are in 2011, well the good part is 25k usd is acceptable but only if the payment gateways provide the transaction details to RBI and in case of banks they provide all transaction details to RBI so its allowed now in case of payment processors like paypal they don't provide the details to RBI so anything above 500$ is blocked and also the amount can't be stored for more then 7days. Now why does RBI wants to treat PAYPAL as a bank. As i said this policy came in 1999 when no one ever thought about paypal, now its time for new policy its 2011 why can't they revise and consider processors like PAYPAL and allow them the way they are as we can't compare policies way back 12yrs , So whom to blame --- the policy of RBI ?

3.) PAYPAL : Even though paypal is operational in india for pretty long time and earning hell lot of money via paypal fees and conversion commissions from indian transactions, why aren't they adhering the policy of RBI since so long , everytime RBI questions them and they play a work around and do the user agreement changes just only for users to suffer. Had it been in USA , they would have legally provided the transactions to US govt. isn't it ? Why not do the same in INDIA too... if they think the business is good for them and have tremendous paypal indian users isn't it possible ? Now why are they running away from legal policies of india since 2004 or whenever they have been operational in india .......its many years why are they ignorant

So both paypal and rbi are to be questioned for this changes

 

Everyone - Protest against the new RBI regulations affecting Paypal transactions.

Fill up this Internet Entrepreneurs of India's Petition to RBI.

Sincerely requesting everyone to please fill it up. We need this RBI-Paypal notification reversed.
Via: Twitter.

 

Did that, forwarded too all my contacts and asked them to re-forward to everyone they know.
I only 'hope' RBI steps back...

 

Ladies and Gentlemen,

Please stop blaming both Paypal and RBI, I would suggest you to wait for atleast 10-15 days untill we get an update from Paypal as they mentioned in their blog.


If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page. As usual, we will provide updates to our users in India here.

If you have any queries please do talk to Payapl Customer Support and if possible our RBI government.

Please be patience and we can expect something good.

 

You are absolutely right, I am sinking ....

 

RBI: We are 10yrs behind what other countries are and may be our govt need to revise policies in the fast pacing world. Whether we Indians like it or not, the world moves at a much faster rate and we have a lot of catch up to do.

PAYPAL: i dont care what paypal earns while doing business in India. Their service is very good and i have to really CONGRATULATE paypal for bringing electronic withdrawal to india. Even Google havent introduced electronic withdrawal yet for adsense payments..

Dont worry and may be paypal with raise the limit later to $1000 in the coming months. Lets hope all will be well!

i think with or without paypal we have to move on...

 

You should. My company outsources a lot of work to India, and the withdrawal limitation simply means that I will stop making advance payments to service providers. Going one step ahead, what this really means is that from now on you only have a 7 days "guarantee" on the services you provide.

 

Congayress ,Yeah thats how i would call them now ,Our government is Idiotic, they cant deal with the 2G scam,CWG Scam but they want the taxes from non-scammers (freelancers ) .Why cant i recieve more than 500$ in one go ? these policy is gay just like our government .
I seriously regret my choice of voting for conGAYress .

 

One thing that must be said, I have worked with freelancers and companies from India for more than 3 years, and apparently I have been very lucky since I have never felt scammed or cheated in any way. Certainly I have found bad service providers in India, but you will find them everywhere in the World.
I guess that it’s about knowing how to hire people, and being reasonable. If you are offered an amazing deal that seems out of this world, it usually is out of this world and it’s your responsibility if you decide to risk your money.

If you hire someone that can barely write English to program your site, you do so at your own risk, and again, it’s your responsibility.
Working with Indian developers has been a wonderful and culturally enriching experience for me, and as for quality, the teams that work for me not only know what they are doing but have standards of quality that would hold anywhere in the World. Let’s not forget that an enormous percentage of developers that work for facebook and Google are for India, it’s not a coincidence.

 

very well said Pedro! cant agree more. a
oh! BTW we indians love christiano ronaldo and i am not sure he is from lisbon.

 

FUck Indian Govt

 

Ronaldo isn't from Lisbon.

He was born in the archipelago of Madeira, but learnt his trade at Sporting Lisbon.

On topic, does the seven day rule imply that buyers have to confirm their purchase with seven days whenever they buy from Indians?

 

Wil FD Credit Card Works In Paypal ??????????????????