Update 27/02/2010:
Paypal resumes Local Bank Withdrawals to India
Paypal has been working on the issue with RBI and will resume bank withdrawals in India by March 3rd.
Details – Resuming local bank withdrawals to India
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Paypal had officially stopped personal payments to Indian accounts and cash withdrawals to Indian bank accounts 3-4 weeks back because of some issues regarding remittances to India. They are still work on the issue with the RBI regulators; but the issue is yet to be resolved.
Here are some details on the Paypal India situation –
Personal Payments and local bank transfers in India
Update on PayPal situation in India
The alternative to withdraw money from your Paypal account to your bank account in India was to use Xoom.
Starting today, even Xoom has stopped accepting Paypal as a funding source in Indian transactions.
Details on that -
Xoom – Paypal Funded Transactions to India Blocked
How to withdraw money via Paypal to your Indian Bank Account?
The only way to withdraw money from Paypal now is to request a check. The fee is $5.00 and it takes about 5-7 working days.
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