RBI Guidelines

13/02/2011 08:16

 

In order to comply with the RBI Guidelines, with effect from 1 March 2011, user agreement of Paypal 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.