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US online payment company PayPal has suspended personal payments to and from India. PayPal has didn’t say much about the suspension, or say how long it would last. Along with personal payments in and out of the country, PayPal suspended transfers to local banks in India.
Anuj Nayar, director of global communications at PayPal, said in the company’s blog “while we work with our business partners and other stakeholders to address questions they have about the service.”
It said customers “can still make commercial payments to India but merchants cannot withdraw funds in rupees to local Indian banks.”
It said customers “can still make commercial payments to India but merchants cannot withdraw funds in rupees to local Indian banks.”
The suspension is expected to have its largest impact on the thousands of Indian freelance developers paid via PayPal for Web design and software development. Many of these freelancers use personal accounts to receive money from clients.
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PayPal has added new withdrawals features for its Indian members.
You can directly withdraw funds from PayPal to your Indian bank account.
At the moment you can transfer your money in following banks:
- State Bank of India
- Bank of India
- Canara Bank
- Union Bank of India
- HDFC Bank
- ICICI Bank
- ING VYSYA Bank
- Axis Bank (UTI Bank)
- Standard Chartered Bank
- HSBC
- Citibank
If your withdrawl amounts less than 7000 Rupees, there will be a fee of 50 Rupees but NO FEE for more than 7000 Rupees. It will take minimum 5 to 7 business days depending on your bank’s policies.
For adding a bank account with PayPal, you need IFSC code, account number of your bank’s branch. Click here to download the IFSC codes of Indian banks.
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Paypal has announced new money withdrawal features to your Visa branded credit or debit card. This funds transfer feature is availabe in 26 countries, including India, Malaysia and Philippines.
Now India, Indonesia and the Philippines can receive funds from 190 markets and 17 currencies but you have to be a verified member to use the new withdrawal features. US$5.00 is a withdrawal fee (or local currency equivalent) per transaction. Currency conversion and return fees may also apply.
If you withdrawal funds to debit card, then funds will appear on your bank account and for credit card, it will show on your credit card statement. PayPal takes 5-7 working days for the transfer but Visa card issuer’s policies may affect the processing time.
It is a good news for Indian professionals. Isn’t it? 
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India’s leading mobile service operator Idea Cellular Wednesday entered into a strategic tie-up with global Internet brand Yahoo! to provide mobile search services. Yahoo!oneSearch is now available in 14 countries around the world.
Yahoo!oneSearch, launched in Asia in May, gives access to news, web images, financial information, weather conditions and navigating other websites. Information on Yahoo! oneSearch in India is available at in.mobile.yahoo.com.
“Our partnership with Idea Cellular is helping to extend Yahoo’s clear leadership in search for mobile users in India,” Yahoo Vice-President and General Manager (Connected Life Asia) David Ko said.
Idea Cellular’s Chief Marketing Officer Pradeep Shrivastava said: “Yahoo!oneSearch provides Idea with a competitive advantage by offering a reliable and easy-to-use mobile search offer to consumers in India.”
