Update To Paypal Situation In India
Mr. Anuj from Paypal comms team has posted an update today following his earlier blog post on Saturday. As the Paypal certain transactions were halted in India people had asked number of questions. This Time Mr. Anuj has sorted out the queries through his blog post and answered the top and relevant questions to clarify the situation. Paypal has clarified the reason that they have suspended the local bank transfers and personal payments to and from India in order to respond to enquiries from the Indian regulators, specifically questions on whether personal payments constitute remittances into India.
He also clarified further that Personal payments to and from India will be suspended for at least a few months until the company fully resolve the questions from the Indian regulators.
Paypal explained further that customers should be able to withdraw their funds to a local bank within the next few days.