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.
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