PayPal to restart bank withdrawals in India
PayPal has received the green light from the Reserve Bank of India to resume bank withdrawals for settlements involving exports of goods and services, but personal payments remain suspended.
In a blog post on Friday, Farhad Irani, head of PayPal Asia-Pacific wrote that the Reserve Bank of India has allowed PayPal to resume bank withdrawals for the exports of goods and services. The company is now making changes to comply with Indian regulations and "anticipates" it will be able to restore its bank withdrawal service for settlements from 3 March.
However, personal payments remain suspended as PayPal still needs specific government approval to allow personal-inward remittances to India.
For more on this story, see PayPal India to resume fund withdrawals on ZDNet Asia.