New Delhi: as reported by Alpana Killawala, a spokeswoman of RBI on Thursday, to continue its services in India Paypal will need to have an approval from the Government under Payment and Settlement System Act. So it is quite clear now that all the personal payments will be delayed until this matter is resolved.
As per the Government policy, none other than RBI has the authority to administrate a payment system.
As reported by analysts, Paypal will indulge itself in money laundering if it does so.
Around the country many freelancers are facing problems due to this issue. All of them have been receiving payments from abroad through Paypal only.
As said by Gaurav in a blog entry, Paypal should have sorted out issues before providing its services in the country.
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I have a request from RBI that please resolve this issue… I’m really in big trouble.
Unless find any other kind of way, that people can withdrawal our money paypal to bank account.