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

Ya that's I want to mean. This system is fraud.

 

The current Indian Goverment should end till 2012 and I hope the new Goverment could bring back all those which current Indian Goverment closed.

 

By the way Do you get any idea or solution to get out of this situation??

 

The solution is to contact RBI by filling online petition or follow Paypal rules from March 1

 

Valentine's Day is coming

Buy a valentine's day card, write your love letter and mail it to RBI headquarters in Mumbai.

You can send as many as you want!

 

The Munna Bhai way?.... Nice idea indeed...

 

Shawn...
Its not solvable problem - because its not just any tool that any individual could create - its the payment system and directly linked to the "Reserve Bank of India" - they are the people who make policy for money matters in India.

As, if we shift to some other payment system too - soon it will be blocked or partially blocked - same is the condition with the payoneer card - that i think all got from 2checkout (mostly).

Also, we do believe for the easy transactions in India and Abroad the paypal was the safest bet - as most people on internet do have paypal for transactions - but with recent changes to 'paypal India' - It is more likely dead for us - therefore we all are agitated by the move of RBI.

Condition is getting worse for the common people in India.

 

shawn^^^ Yes rightly said... and these Indians always think that the thing they want should come to them instead they going to grab it.

 

Hi Shawn, Nice to see you take part in this thread!

It's not that no one can start a bank in India, but the regulations are such it will take at least a year to become a fully operational bank and to become a payment gateway, it will take even more time. Yes, you are right, this is a good opportunity but the current scenario in India about foreign funds and black money is hot and no one really knows what's there in pipeline for coming months, and we have a budget session in Parliament at end of this month. So, no one will really start any new venture till end of March because the new budget, changes in the rules and regulations comes into effect starting from 1st April.

 

@shawn - You are a great example for others in this forum and good to see how you are able to solve problems. Things in India doesnt happen in one day and there is plenty of rules and regulations to follow. You will need tonnes of money (crores) to start a bank and its not easy to get banking license from govt. oh! may be if you visit India and we will give you a rousing reception

 

BTW, we all should do something before it is implemented! We should report this issue which affects 1000s of professionals, to news papers, magazines, news channels so that this problem gets highlighted and so that the higher up knows about it and do something about it, else it could just be the end of life for many of us!

 

I agree with shawn. It is better to start doing something than waiting for the things to happen.

Just weighing in the pros and cons. The alternative will cost time and money. India is a funny place in terms of rules and regulations. If after pumping in money and efforts the rules again change back in favor of this system then the new system is doomed. But a great advice. I will think on it and also pitch it with some of my business partners. We do it or not that I haven't even thought as of now. Atleast we will spend sometime analyzing the business plan.

Thanks

 

We can't do anything! One of Indian Company which holds 8% GDP applied for banking system in India 2006, it's 5 year running but yet not got permission.

 

@shawn

It's easy to create a Service like PayPal but it's very very tough to get permission to do business in India.

 

BTW
I thought I will drag my business in 2CO - But the problem is payoneer.com not support Indians now. They don't even ready to issue CARD for Indian. Do you guys any solution !