PayPal Starts Fowl Play

Paypal

The online money transaction entity PayPal has suspended its withdrawals to Indian banks and does not expect to resume this service before the 3rd of March. Amidst huge debates and controversy surrounding the PayPal RBI tussle leading to new PayPal rules, this suspension of transactions comes as a surprise and severe blow to its Indian customers.

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PayPal is being found communicating to its customers that they have suspended new withdrawals to banks in India and expects to resume the service only on March 3rd. This treacherous act by PayPal has created huge inconvenience to Indian Small scale IT Service providers, Freelancers and Merchants who wanted to clear off transactions before the new rules, already regarded as immensely inconvenient, comes into effect from next week.

Although the public opinion was mostly against the RBI guidelines and was taking a soft view on PayPal’s changed rules, the company has now proved themselves only to be a big hypocrite corporate entity. PayPal has in fact gone ahead and proved that they are worse than the new RBI guidelines (about which we have already published several reports in Times of Assam) by ensuring that the Indian customers face more inconvenience, even before the rules come into actual play!

It’s evident the fact that PayPal has been claiming big about giving a month’s notice period in advance to its Indian customers was only a gimmick

About Priyankan Goswami

Priyankan Goswami Priyankan Goswami is the Editor of Times of Assam's Political Analysis section. He is also founder member and member of the Executive board of Times of Assam. By Academic Priyankan Goswami is MBA & Mechanical Engineer.

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4 Responses to "PayPal Starts Fowl Play"

  1. Jayanta Kumar Das  February 23, 2011 at 05:33 PM

    Very good article

    Reply
    • Arvind Arora  February 28, 2011 at 02:39 PM

      I’d like to express my sincere thanks to Times of Assam (especially Priyankan Goswami) for being the only news portal or to be more precise, the only media organization in India that has been raising the gross carelessness and partiality shown towards the honest & hard-working freelancer community of India, by the Reserve Bank of India. What nobody seems to recognize is the fact that our governments that have gradually reduced to mere puppets of the rich corporates and industries, are doing everything and anything that they are directed to do by their bosses (read those with high piles of money); and these insane and mindless directives by the RBI are no exception to this.

      Isn’t it highly shocking and exasperating that we the freelancers who’ve been working day in and day out to add to the foreign reserve of our nation in an absolutely honest and clean way, are being hindered to continue earning our daily breads in a totally transparent and legal manner (THOSE WHO THINK IT IS SOMETHING ILLEGAL MUST KNOW FIRST THAT PAYPAL PAYS US THROUGH OUR BANK ACCOUNTS IN NATIONALIZED BANKS, VIA NEFT MONEY TRANSFER, A SERVICE UNDER DIRECT CONTROL OF THE RBI), while those corrupt politicians and bureaucrats who’ve piled billions of rupees that had been collected by extorting bribes and stealing OUR HARD EARNED MONEY to offshore tax havens, are being faithfully obeyed by these nonsense government organizations???

      And WHOEVER SAYS RBI HAS DONE IT TO CURB THE INCOME TAX IRREGULARITIES BY COMMITTED FREELANCERS, IS EITHER AN ABSOLUTELY FOOLISH PERSON OR DOESN’T KNOW WHAT ‘PAN NUMBER’ is, as every PayPal user needs to enter his PAN Number within their database that is directly reported to the government authorities.

      I’m damn sure there is much more to this regressive and stone-aged move taken by RBI than meets the eye, and the big IT companies and service providers are behind it who want the freelancer community from India to work for them as petty slaves at much lower wages than what they have been earning as direct freelancers. I myself have watched the honchos of these companies lamenting at freelance job sites for offers us reportedly ‘undue wages and importance.’

      According to me there are two big problems being faced by all of us, the freelancer workers from India:- 1. We are not organized and united at a platform, and 2. No media house is supporting us, barring some blogs and Times of Assam as the exception. I strongly urge all of you that let’s get united at a platform to take this issue on a wide scale and fight together in order to oppose this gross injustice.

      Please forward this message to more and more freelancers in India whom you know, and ask them to contact me at indianfreelancersgroup@gmail.com so that all of us can get united and work together to get our rights restored to work as honest freelancers.

      Thank you very much Times of Assam once again, for beating the media lords of India who consider Rakhi Sawant, Corrupt Babas, Cricket & Film Industry to be of much more importance for Indian people to know, than what is going in the REAL WORLD.

      Arvind Arora

      indianfreelancersgroup@gmail.com

      Reply
  2. Subhadeep Bhattacharjee  February 24, 2011 at 02:06 PM

    How is the RBI wrong if it wants all income made to be taxed? Its paypal which has fixed the $500 figure as anything over it should be reported to the RBI according to rules…..Paypal has fixed the 7 days deadline as RBI mandates interest on the 8th day so how is RBI wrong!

    Email: subhadeepbhattacharjee@oneindia.in

    NOTICE FROM TIMES OF ASSAM:
    Comment is Edited. This user has been banned for further comment due to his abusive comment.

    Reply
  3. Robin  February 26, 2011 at 03:55 AM

    I have been following the reports published in this website and
    I agree to what is being reported.

    To the above comment by Shubhadeep,I would request him to gain some more knowledge
    about how things work before commenting in such a news webiste only to make a fool of himself.

    Admin, I hope my comment is not categorized as Abusive as this is nothing personal.

    Also, RBI’s guidelines are completely meant for destroying PayPal so that Indian companies providing with same services can
    shine. Mind you this is not special for the people though, it will help only a handful of capitalists of the country and continue to destroy Indian freelancers.
    Anywho who cares, Indians are used to “chalta Hai” attitude, so we will live on what we have, without protesting.

    Reply

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