RBI to dole out more banking licences such as PAYPAL

Finance Minister Pranab Mukherjee today said Reserve Bank of India (RBI) will issue banking licences to more entities including the Non-Banking Financial Companies (NBFCs) like private sector investment as well as PayPal like online payment processing companies.

He said banking licences will also be issued to the NBFCs which fulfil the prescribed criteria.

 

Did he mentioned Paypal in his speech ??

But anyways this is good news seeing current paypal situation

 

Hi.. No they didn't but NBFC stands for all non givernement/non bank players dealing online and offline including Visa, MasterCards and American Express.

 

So we hope this matter gets solved quickly by paypal.

 

Yes, I hope by 28th / after holi we may have some official announcements from PayPal in www.thepaypalblog.com

 

We have to wait and watch the game until there is an official announcement from paypal.

 

Hope this issue gets solved soon and then we could hear good news from paypal.