PayPal India just announced that the Reserve Bank of India (RBI) has lifted one of the restricons imposed on Indian merchants earlier this year.
Effective immediately, “merchants in India can receive export-related payments for goods and services into their PayPal account up to USD 3000 per transaction,” announced PayPal.
“This is great news as the vast majority of our merchants in India can continue to use PayPal for their online payment service with overseas customers.”
“With these changes completed, you can confidently accept PayPal for your cross-border transactions with our global buyer base of over 100 million active accounts in 190 markets worldwide,” said PayPal.
To comply with the RBI guidelines, you must “add a Permanent Account Number (PAN), Purpose Code and local bank account to your PayPal account in order to continue receiving export-related payments.”
More details on how to add the above details can be found here.