Archive for 'Paypal'
Paypal and RBI finally shake hands
Posted on February 27, 2010, by seogirl, under General, Payment Processing, Paypal, RBI.
I just woke up with this pleasant news in my email by Paypal that says, “Indian Bank Transfers will be open from March 1, 2010″. A nice Holi gift to all the Indians but wait, this is not all..
On reading further, it says, after working in synergy with the RBI, some new features have been introduced – major one being – the “Export Code”.
Before any transfer to be made to any of the local banks, Indian Paypal user’s will be required to fill in this “Export code” to complete the transaction. Paypal and RBI says, it will allow all the export related benefits to be claimed by PayPal users. And also, the personal payments still remain suspended because, RBI wants Paypal to have some special approval for those type of payments.
Don’t know whether this one is good or bad in terms of Tax and everything, since I haven’t analysed that part as yet.. If anyone finds that out, do share with me..
You can read more about this at the Paypal Blog.
Hope this one was a good news for you.. Have a nice day ahead
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