Great news awaits the Indian PayPal users now. It has been declared that Reserve Bank of India will allow the Indian users to get the export related payments in PayPal of up to USD 3000/ transaction. This is indeed very good news for all those who receive huge sums of payments everyday in their PayPal accounts.
The RBI thank the users for understanding the guidelines that they laid down as well as appreciate the patience that PyaPal users showed over past few months. With the changes completed, the users will now be able to accept PayPal for the cross border transactions with the universal buyer base of more than 100 million active accounts spread across around 190 markets on the global front. RBI further looks forward to continue providing the support the export business via their online payment platform.
In order to comply with RBI policies and guidelines, you need to add your PAN number, local bank account details and Purpose Code to the PayPal account to continue getting the export related payments once again.
In order to comply with RBI policies and guidelines, you need to add your PAN number, local bank account details and Purpose Code to the PayPal account to continue getting the export related payments once again.