I am seeing lot of threads in DP for discussing who is responsible for the issues faced by PayPal users in India. Whether it is RBI or PayPal? I have one simple question to PayPal. One of difficulties Indian Paypal users are going to face is, Rs. 50 withdrawal fee. As the new rules mandate immediate withdrawal, this Rs. 50 becomes unavoidable. (Previously this fees can be avoided by waiting till reaching Rs7,000) Now, my question is, If the whole changes are triggered by RBI, whether PayPal is willing to cancel this Rs. 50 fees for Indian users?
We really gotta wait till March 1 to know what they gonna do with this 50 Rs stuff when we withdraw below 7000 Rs. However, there is no word from them yet in this regard officially. So fingers crossed.
see the issue is Paypal do not have Banking license here in India. so if they(paypal) close the india business say tomorrow and freeze the money we have in our Paypal ac., then RBI and Indian Govt. can't force the Paypal to pay the money. so if Paypal want to get Banking license, then they have to pay Money to RBI (which is huge amount ) to get license. which Paypal don't want to pay. right now it seems they are happy with it. bcoz, they are making money from India business and it will come down from march 1st. it seems that they are in "Wait and Watch" mode if it affect the Biz then only they will think about Banking license, if not then they are already making Money bcoz of us (Free Lancer, Internet Entrepreneur, whatever you call yourself.)
@raoraj - it's all joke. The Indian government lots massive amounts of money in their own scams and finding new ways to recover it. This time RBI is implementing FEMA act, 1999 and see if they can make some money.
Is it really possible to recover money which was lost in scams like CWG, 2G spectrum allocation etc just by killing freelancers' businesses?
They are really idiots then. I don't care who is faulty here, RBI or paypal. I just care about some solid answers for our questions. and for the time being, govt. bodies are answerable of our questions.
It is RBI's fault. All this has been done to discourage use of PayPal in India. RBI wants us to use Indian Banks for transferring money. Similarly RBI wants that we use Credit Cards because it helps Banks. Also some banks have started their own services to allow Indians to send money abroad. All these steps are taken to make people use Bank services instead of PayPal. Obviously RBI is getting bags full of cash from ICICI and HDFC Bank.
in my country Bangladesh, PayPal does not support...but in India, it does. now i can see, there is problem too.
yes you can send the money to other country. But you need to have a cc (funds in pp balance can't be used to send money)