Millions of Paypal account holders in India have not been able to transfer funds from the Paypal account to their bank accounts in India since January 28th. The reason for that was the clarifications and objections raised by the Reserve Bank of India , with Paypal.
In the last few weeks, Paypal has been able to make necessary amendments in their processes, to the satisfaction of the Indian authorities. Now the company is planning to resume business fund transfers of all Indian account holders from March 3rd.
This is a welcome move for millions of small time players who are using the service of Paypal for the last few years, to receive all their small payments from overseas service users.
Paypal to resume fund transfers for Indian accounts