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Old 10th February 2010, 22:55   #16
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Has anyone contacted Paypal and asked then why this is the case?
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Old 10th February 2010, 23:09   #17
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Were you talking to me? I do not wear denims, just trousers, or chinos. Not sure why you assumed by yourself.
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Originally Posted by pranavt View Post
Next thing you know, someone on these forums will ask you to take off your denims and wear khadi exclusively. Jeans are an american sign and if you are living in India, there is no reason to wear anything other than dhotis. Denims suck!!
Denims do suck, especially in Indian climate conditions.

There is no point comparing black and white. One could say why are we writing in English. People dont wear dhoti, because they are force to wear denims - not physical force but peer pressure force and psychological business force. "Buy our denim and give us your money, if you dont you will be considered stupid", or, "Buy our GM Brinjal seeds (by Monsanto) and surrender your crops to an American corp and keep paying them Fee and fall in debt and commit suicide", and now "Play by our rules and give up your currency and favor USD and its economy by using Paypal"

Regardless of what you choose to eat or wear has nothing to do with our currency. He is the loser if he is doing transactions in USD, and Paypal is the winner. Finally, I will say that Paypal can be greedy at times and can rip you off.
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Old 10th February 2010, 23:09   #18
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Guys take it easy. I had a chat with PP representative and Bank withdrawals will be back to normal by next week (hope so).

Reverse payments issue is solved!
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Old 10th February 2010, 23:20   #19
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Originally Posted by pranavt View Post
It is the Indian Government that is responsible for this. They want to track each and every rupee/dollar entering and leaving the country. Paypal, OTOH, allows you to send and receive money with nothing more than an email address. This obviously doesn't fly well with whoever controls the Indian currency and financials, which is why they're at loggerheads with Paypal.

Paypal obviously sucks, but in this case, they're without any real fault of theirs.
I agree on compliance with Govt rules, however some advance notice should have been given, this would have helped people withdraw/make other arrangements.

This is typical of a knee jerk reaction to the government's diktat.

On the other hand, had they asked the government for a phased time bound application that would have been the right way.

Anyways loss for paypal and a bigger one for the Indian economy, as when you request for a withdrawl from paypal, one used to get a cheque.

Now these funds will slowly come into the country by other means outside the official economy WHICH again nullifies the gains to the government.

They just pushed the unofficial channel even further beyond their grasp and control.
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Old 10th February 2010, 23:44   #20
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Quote:
Originally Posted by mmmjgm View Post
I agree on compliance with Govt rules, however some advance notice should have been given, this would have helped people withdraw/make other arrangements.

This is typical of a knee jerk reaction to the government's diktat.


On the other hand, had they asked the government for a phased time bound application that would have been the right way.

Anyways loss for paypal and a bigger one for the Indian economy, as when you request for a withdrawl from paypal, one used to get a cheque.

Now these funds will slowly come into the country by other means outside the official economy WHICH again nullifies the gains to the government.

They just pushed the unofficial channel even further beyond their grasp and control.
Emphasis mine.

We cannot expect the Indian Government to clarify this matter, as it is the Indian Government and it wouldn't. And Paypal has never been one to stand in front of an audience and make a statement. Their practices are shady beyond belief, and the loopholes they use to conduct their business will be closed some day. However, it would be wrong to assume that Paypal would willingly aggravate even a minor percentage of the Indian population since it is the only means of earning money for quite a few of them, and more so, another means of income for Paypal itself. I wouldn't assume anything until Paypal actually makes a proper press release revealing the facts of the case.

They've wasted my time, stolen money from many people and are possibly the scum of the Internet. However, they will, by no means, shoot their own feet. They're far too greedy to ever do that.
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Old 12th February 2010, 07:16   #21
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Quote:
Originally Posted by aerohit View Post
Were you talking to me? I do not wear denims, just trousers, or chinos. Not sure why you assumed by yourself.

Denims do suck, especially in Indian climate conditions.

There is no point comparing black and white. One could say why are we writing in English. People dont wear dhoti, because they are force to wear denims - not physical force but peer pressure force and psychological business force. "Buy our denim and give us your money, if you dont you will be considered stupid", or, "Buy our GM Brinjal seeds (by Monsanto) and surrender your crops to an American corp and keep paying them Fee and fall in debt and commit suicide", and now "Play by our rules and give up your currency and favor USD and its economy by using Paypal"

Regardless of what you choose to eat or wear has nothing to do with our currency. He is the loser if he is doing transactions in USD, and Paypal is the winner. Finally, I will say that Paypal can be greedy at times and can rip you off.

OK guys time for going OT. Flag off from here .
Buck topic
Jeans, dhoti, kurta..
oh yeah !! BT Brinjal

Next topic for OT : Job outsourcing ban!
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Old 12th February 2010, 19:20   #22
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Sorry for going OT , I just got the extra charges reversed by the paypal guys. So though the transaction was reversed, so were the extra charges.
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Old 3rd March 2010, 17:16   #23
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Guess the matter has been resolved now. Official paypal communication:

Quote:
We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who depend on PayPal to sell their goods or services in the global marketplace.

Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services. We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our bank withdrawal service.

You can check the PayPal blog for additional updates.

www.thepaypalblog.com
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