Appeal To RBI ‘Resolve PayPal Issue In India’

from-indian-entrepreneursLast year on Feb 6 ’10, It was the issue of payment transfers to local banks in India and Now this ‘Reserve Bank Of India Restricts PayPal Payments To Indian Merchants’ issue. It is really annoying how Entrepreneurs & Freelancers……. Anyway, lets take a look at what others are saying.

What Others Are Saying?

Some Interesting Statistics About Indian Paypal Users

According to source, PayPal’s total payment volume, the total value of transactions US$ 71 billion in year 2009 with US$191.7  million of transaction per day. Now lets write this in simple form instead of writing it with millions and billions because people hear them everyday and don’t even know how many zeros it has.

$70000000000 per year & $191780821 per day  *Cough* You know i said dollars!  right? *Cough*.

In which India did the $4.620 billion transaction per year according to 2009, that is  211,048,067,999 ruppes  in 2009.

Now Lets take a look at PayPal Usage Per Country – Top 6 Countries

  1. USA – 40.7 %
  2. U.K –  8.2%
  3. India –  6.6%
  4. Germany – 5.1%
  5. Canada – 3.3%
  6. China –  3.2%

Another intresting fact - Nearly 49% of the high-tech startups in silicon Valley and Washington, D.C. are owned by Indians or Indian-Americans.

What Can We Do? Sign The Petition!

Please Sign this Petition and share it with your friends, specially any Bloggers or Entrepreneur you know,  At least Retweet or Like this to spread this.

Signing this petition is very easy, Use the widget on right or go to petition page at http://bit.ly/paypal2011

20 thoughts on “Appeal To RBI ‘Resolve PayPal Issue In India’

  • February 2, 2011 at 11:30 am
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    Great post!

    I too feel rbi is the culprit and just signed the petition.

    Reply
    • February 2, 2011 at 11:31 am
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      Thanks Yamha for supporting us, don’t forget to retweet and share it to spread the word.

      Reply
  • February 2, 2011 at 2:42 pm
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    Your Petition link is displaying error : Phishing site blocked!! What is the reason?

    Reply
  • February 2, 2011 at 8:41 pm
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    thanks for sharing more info
    and visiting my blog.

    Reply
  • February 3, 2011 at 3:57 am
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    What more can you expect when we have bunch of idiots ruling us.

    With draw money in 7 days..
    some get just $1 that way you end up paying extra to PayPal.

    Reply
    • February 3, 2011 at 5:48 am
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      Hi Amit,
      Thats So true, Thanks for stopping by,
      Don’t forget to share this with your friends.

      Reply
    • February 8, 2012 at 10:13 pm
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      UncleStumpy on February 1, 2011 If i was the secpeh I would have chugged that wine before the secpeh lol might have helped..poor guy

      Reply
  • February 3, 2011 at 6:34 am
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    Hello…thanks for dropping by my blog and sharing the link to sign the petition to resolve this never ending issue between RBI and Paypal. I am going to sign it now.

    Reply
  • February 3, 2011 at 7:50 am
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    Don’t know whether it will solve the problem or not i’ve already signed the petitions and also send letters to leading News Agencies and request them to cover the issue.

    Reply
    • February 3, 2011 at 7:52 am
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      Thanks Suvo,
      I will try my best,

      Please share this with your friends too.

      Reply
  • February 3, 2011 at 8:54 pm
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    According to RBI sources.
    1. If paypal keeps your money more than 7 days, they have to pay you interest and apply for a banking permit, hence the 7 day time to transfer your money.
    2. If paypal allows amounts of more than $500 per transaction, they have to apply for a banking permit.

    In the end, it is us who are left in the middle of the road. PayPal has taken our money by way of charges but they do not want to offer any service.

    Reply
  • February 4, 2011 at 5:40 am
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    Signed the petition and I am not sure how much it will be effective but I think this is a good move.

    Also an offtopic suggestion – Your theme is broken in Chrome. Just check that out as well.

    Reply
    • February 4, 2011 at 8:46 am
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      Hi Shabbir,
      Yes, i don’t know if we can make an impact or not, but we have to start from somewhere…..

      Thanks for your suggestions.

      Reply
  • February 4, 2011 at 3:21 pm
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    RBI people do not know importance of paypal on online business, it is not possible to run a online business without paypal, let RBI official try to do online business without paypal or let them try the business with their latest guidelines, it is not possible to do online business with their latest comic guidelines

    Reply
    • February 4, 2011 at 3:29 pm
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      That is so true, I 100% agree with you,
      It is almost impossible to do an online startup without Paypal.

      Thanks a lot for your comments and don’t forget to share this with your friends.

      Reply
  • February 5, 2011 at 6:12 pm
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    Hi friends,

    Just signed the petition and expressed my views,hope this issue gets resolved at the earliest.

    Reply
  • February 9, 2011 at 11:41 pm
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    I have been helping people in India solve the Paypal problem through setting up a Hong Kong company which has a Hong Kong bank account tied to a Hong Kong Paypal account which can be operated remotely by the user in India.

    Reply

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