PayPal and payments to India
16 Apr 2010
After the announcement in February that PayPal would be stopping all personal payments to India, they have now confirmed that remittances have now been resumed for small-time exporters. The director of global communications for PayPal stated that customers reliant on PayPal are now able to sell their goods/services around the world and withdraw money to their local bank accounts, provided that they report the remittances as export revenue to Indian authorities. Unfortunately personal payments (transfers between individuals, to and from India) remain suspended until RBI issue the necessary licenses and approvals:
