PayPal operations in India suspended by RBI

Rightly said Poonam. Many websites are using paypal to get paid form advertisers. With the recent RBI’s move, paypal pay outs are in question. What I guess would happen is payal might ask all its customers to reaveal PAN number for tax accounting. Though its good move from RBI to track online payments, freelancers will get affected by this for sure.

[...] weeks back, Paypal operations in India got disrupted after RBI enforced registration and licensing rules on it. Paypal being one of the most widely used [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of Bharat (RBI) because they did not obey with every germane restrictive requirements, were confirmed. Last night, PayPal posted a status update on its joint blog, locution that they look to uphold [...]

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[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

If you wish to complain to RBI then try this URL: http://www.rbi.org.in/commonman/English/Scripts/AgainstRBI.aspx

Ive already raised my voice:
——————————————-
Respected Sir/Madam

As I work as a Freelance Developer and most of my work comes from offshore clients I get most of my payments through Paypal, Moneybookers or Western Union. I work both on Design and Development of websites.

Ive been using PayPal as the medium for some of my Electronic Funds Transfer where my clients have no other option but to pay me through PayPal or MoneyBookers. I have been very much satisfied with PayPal no complaints!

Following the recent fluctuations with PayPal and RBI I had due to the Rules & Regulations that RBI had imposed on PayPal to stop receiving or sending any payments from PayPal has left many aspiring individuals like me on a rocky cliff that will not be easy to climb. For the past two months I have gone from WORK to NO WORK.

Im relived to hear that RBI has now allowed PayPal to resume transfer to Indian Bank accounts. Its not that I don’t pay my Taxes or trying to hide anything. But even with individuals who are diligently co-operating with the RBI and the Taxation Rules and Regualtion it comes to the worst level of frustration of being held back from work because of a system.

Whatever conclusions or decisions were made during these fluctuations by either RBI or PayPal were meant to best serve the respective bodies and not the individual in mind, and the answers we get in response to these events also best serves you. And evidently we have to speak for ourselves here, if the screaming and yelling doesn’t reach your ears then our bad luck. The world seems like a whole lot different from where you command and control, put yourself into our shoes that the world will start to look a lot worst under these circumstances. So, suggest me who I can compaint to? My Government? RBI? or PayPal (Which has turned out to be ugly and impotent as expected)?

The million dollar question “IS YOUR SYSTEM EFFECTIVE?” Lets be realistic you have made it so effective thereby so much restrictive that it has left many people un-happy, out of work and out of money. A good example of this would be locking up my girl friend behind closed doors, just because I want the security that I don’t loose her or she doesn’t have any relationships with anyone else, that’s some ensured security! But does that make her HAPPY? Will she keep me HAPPY like that?

I agree that it was regulated and is necessary to ensure we do not become soft targets to any illegal money laundering or terrorism, but should it mean that individuals like me have to suffer the consequences and at what prize, loosing work, loosing hard earned money. If this reaches your ears then please consider making a SYSTEM that is effective atelast to the INDIANS.

And last but no least I would really like to have information on the new rules from RBI as well. To what extent I have to verify and what documents or proofs I require that enables me to work and earn with the nature of my work.

[...] nothing is going right for Paypal India for the past one month. Reserve Bank Of India (RBI) suspended PayPal India Operations citing non compliance to rules and [...]

[...] yet to come out of its nightmares fully. Few months back, the company’s operations got into serious troubles in the country after RBI brought it down citing non-compliance to rules and regulations. Later, it [...]

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Seeing your post come accorss in the online,form it remind me a large number of languge knowledge.Thank you.

[...] Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to [...]

[...] Paypal operations were suspended in India by RBI, citing regulatory norms. Later services were resumed, only partly and Paypal was ordered to [...]

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I like to use paypal. RBI is too strict

why they suspended paypal, paypal is a good thing

paypal needs to obey the laws in the countries.

[...] Bank of India (RBI) had been a big headache for PayPal India for over an year and it continues to be so even in this new year. The latest RBI guidelines for the [...]

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Why is RBI so strict ..?

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PayPal says this will set right in the next few days.

Bank of India (RBI) havde været en stor hovedpine for PayPal Indien i over en år, og det fortsætter med at være så selv i det nye år. Vi glade for at se dig på apotek dk.

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