MAKE MONEY ONLINE » paypal. RBI http://e-make-money-online.com Experience the Internet Realms with Online Tips... Fri, 27 Apr 2012 18:56:29 +0000 en hourly 1 http://wordpress.org/?v=3.1 Reserve Bank of India Stops Paypal Operation In India http://e-make-money-online.com/2010/02/reserve-bank-of-india-stops-paypal-operation-in-india/ http://e-make-money-online.com/2010/02/reserve-bank-of-india-stops-paypal-operation-in-india/#comments Sun, 14 Feb 2010 15:23:54 +0000 Dollar Dude http://e-make-money-online.com/?p=471 Pay-Pal, the giant in online money transfer service provider has been asked by Reserve Bank Of India (RBI) to stop its operation in India. has been asked by RBI to stop its operation in India. As per Indian Govt. Law, a company needs to be registered with RBI to offer money transfer services inside the country. But PayPal had not registered with RBI. So RBI halts of remittance operations of portal Pay-Pal in India. (Source: The Economic Times)

RBI said that PayPal does not have their authorization under the Payment and Settlement Systems Act, 2008.
The Act, adopted in August 2008, regulates payment and settlement methods in India.

If PayPal registered with RBI, they can resume operations in India. I think paypal will register with RBI because nearly 7% of their total business is with Indians and it is rising fast.

We will wait for the result with our fingers crossed.This is really a big blow to the make money online users.

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