Paypal received a notification from the Reserve Bank of India (RBI) outlining the new requirements for governing the processing and settlement of export-related receipts facilitated by online payment gateways. In order to comply with the RBI guidelines, our user agreement in India will be amended for the following services with effect from 1 March 2011 as follows:

  1. Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and
  2. Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.

To our users in India: we truly value your ongoing support and we?re committed to providing you a high level of customer service. We hope this 30-day advance notice period will enable you to plan your future use of our services accordingly. We sincerely thank you for your understanding and patience as we continue to comply with the RBI guidelines in a timely manner.
To our global users: we regret the inconvenience caused from 1 March 2011 when you try to purchase from or send payment to an Indian merchant over US$500 per transaction. For purchases or payments above this transaction value, you will have to use an alternative payment method. By informing you 30 days in advance of this change, we are giving you an opportunity to adjust your payment process to minimize any disruption to your purchase of goods and services from India.
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.
Mind Freak Reviewed by Mind Freak on . RBI Fucked Indian Paypal users Paypal received a notification from the Reserve Bank of India (RBI) outlining the new requirements for governing the processing and settlement of export-related receipts facilitated by online payment gateways. In order to comply with the RBI guidelines, our user agreement in India will be amended for the following services with effect from 1 March 2011 as follows: Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be Rating: 5