What Is The Solution For PayPal’s Restriction In India

Hello Bloggers and entrepreneurs as we all know that there’s a new legal action issued by PayPal in support of Reserve Bank Of India. You all already had got one email as i got in the morning. Actually my today’s starting was worst. As i logged in and opened Thunderbird I got an email stating this: 

As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India. 

With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways (“RBI Guidelines”). 

In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows: 

Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and 

Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction. 

We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner. 

We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly. For further information, click here. 

If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page. We sincerely thank you for your patience and continued support. 

Sincerely, 

The PayPal Team 

Now what? What will happen to all those Online Business owners who are using PayPal as a gateway. What about all Bloggers who are paying for Hosting every month ? , What about those entrepreneurs? 

Why Reserve Bank Of India wants to kill our Blogging Life. Don’t you guys think PayPal is helpless as they have to go as RBI’S Guidelines?What we all will do now ? 

Is There Any Solution ? Can we Continue our Blogging like this ? Raise Your Voice. 

Yes the only solution to this is Raise your voice. One of the Serial entrepreneur Ankesh Kothari from Mumbai, India Raised voice against it and made a website www.ieoi.in to get a huge amount of people Raise their voice against this issue. 

Media Can help us ! Yes, Media can help us raise our voice against these guidelines issued by RBI. 

If, Govt. feel no pain of us. Then this is certainly Death of PayPal in India. The only solution is get an another account of AlertPay or any other alternative. But many companies are not accepting PayPal! This is what one of my friend says on Facebook. 

Ya I Know 

but when PP will not be used by 1.5 Billion population countries than the companies will definitely accept AlertPay. 

Yes if RBI don’t take their words back. We’ll have to find some other alternative or get a Credit Card for paying our Hosting Bills and all. Lets See what happens next!