Paypal... Bad news to Indians.. Whats next

India
January 30, 2011 3:13am CST
I have received a mail recently... I am a PTC site Admin making payments through Paypal.. Now what r the repurcations.. Plz See this and let me know With effect from March 1, 2011 You are required to comply with the requirements set out in the Notification of Reserve Bank of India Main Points are : 1) Any balance in and all future payments in to your paypal account may not be used to buy goods and 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 and services 2) Export-related payments for goods and services in to your paypal account may not exceed US 500 $ per transaction Please tell me what it is !
1 response
@owlwings (43915)
• Cambridge, England
30 Jan 11
This is not the first discussion on this topic (and I doubt that it will be the last). It is a good idea to search before posting. Try this: http://tinyurl.com/4afdyar
• India
30 Jan 11
However i wanna know the views of my indian co frds also... so i guess it ll be fine