Anuj Nayar from PayPal commented on a few posts on Binary Turf informing us about the formal announcement on PayPal’s blog answering some of the queries on the Indian episode. Evidently, it was RBI (Reserve Bank of India) the financial regulator which notified PayPal of certain changes in the policy at the last moment due to which PayPal had to reverse the personal payments. Additionally PayPal suspended withdrawals to Indian bank accounts and all the withdrawals initiated during this period will be reversed to your account. This should be fixed in a few days. Here’s the complete announcement.
While we do understand PayPal’s willingness to protect their brand and customers we find that the lack of communication, announcement delays and poor customer service are some of the reasons why PayPal’s image in India may take a hit.
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India Users can use Xoom for withdrawing money from PayPal to their Local Bank Account
http://qualitypoint.blogspot.com/2010/02/india-users-can-use-xoom-for-withrawing.html
It’s quite appreciable that such information is being shared through a huge network. Keep it up.