Mate, Its all faults of PAYPAL . It thinks it can do act like a payment system without securing any authorization from RBI to operate in India. It should have secured it first place before starting bank withdrawal in India . Also RBI has recently updated the the law regarding license. Since it has not done it RBI has to issue a notice. So RBI came to PAYPAL as asked it to stop operating. And now we all alongwith PAYPAL paying the price of negligence. And please don't blame RBI or India's so called corrupt system here. Its not their fault. All RBI is trying to fix a corrupt system called PAYPAL. Now we are worried because of some stupid people in PAYPAL thought that they can operate in any country without securing any license. They don't want to be governed.Did PAYPAL took Indian Law System too lightly??? I think yes. And we are all paying that price. I know we are facing huge issue here. PAYPAL probably the "LIFELINE" of our business thus perhaps our families. Its like a "PAYPAL week" going on here ... we talk PAYPAL, think PAYPAL , abuse PAYPAL, adore PAYPAL . I remember that song of Kishore Kumar "Pal pal dil ke pas tum rehte ho" ... so we should sing "PAYPAL dil ke pas tum rehte to" . Whatever "WE LOVE YOU PAYPAL" Guys keep up the hope Cheers, Krish
Since paypal is a US company, i hope the US govt would intervene and talk to indian govt, just like how they supported google in china.
I do not think Paypal would just sit back and allow the huge segment of its business go down the drain. Paypal would be frantically trying to set its house in order and would be willingly equipping itself to get itself registered with RBI. It might take a bit longer time but I guess... it is not the end of road! Regards, RightMan
may be the finance ministry wants to regulate , some of the guys using paypal and others for money laundering...unfortunately we have to take the punishment for someone else's mistake thats how this world is... Because of terror we face strict checks at airpots.. because of stock exchange scams the trade index was tightened now because of money laundering online we see RBI making online transactions harder.. I agree, but dont try and say this to these guys they wont understand a thing you say...all you get is some more paypal praise and some mean words thrown in
All I know is, "M living a f**king Rules and f**king Rule Makers Country. " I fear, when withdrawal issue will be solved now. SHITTTTTTTT!
I think India is the biggest market for PayPal. They should clear the things as early as possible. Many innocent and legit users will suffer for this act of PayPal. Users should also follow the TOS of PP and use PP as per their TOS. YOu cannot abuse a system for fake transactions. PP is the need of time in this revolution of internet marketing and business.
Right now I suggest don't use any option to withdrawal money from PayPal. You may transfer it via Xoom which is only working way at the moment.
Well, till now only paypal user was knowing the pain of account suspension. This time PAYPAL surely understood the pain of suspension.
I think this is going to be more complex. Because, even if the RBI approves the Paypal to transfer the money from foreign countries. It can start doing business in India only after making arrangements to pay the advance taxes, tax deductible at source, also the details of the users and their business to GOI. Currently these details may not be shared to the GOI, which makes the some users doing their business without paying/registering the/for sales tax/service tax, but only income tax.