Update on PayPal accounts for India users

Hottest topic of the day...!

Paypal removing their electronic fund transfer to the Indian members from tomorrow onwards. This news is somewhat hot today. A lot of Indian members got a lot of worry by this update.Please read below..

In accordance with regulatory instructions, there will be a change in our withdrawal functionality in India starting on August 1, 2010. At present, you can request for either an electronic or cheque withdrawal of funds from your PayPal account. From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.

We sincerely apologize in advance for any inconvenience caused from this change and we are working hard to restore the electronic withdrawal service. In the meantime, we are bringing this matter to your attention so that you can plan your future withdrawal activities accordingly.

Our India users can find the cheque withdrawal process here. In order to help you deal with this change and until further notice, we will refund the US$5 cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

If you have any questions, please contact PayPal customer support by logging into your PayPal account and clicking on ‘contact us’ at the bottom of the page.

Again, we apologize for any inconvenience caused from this change in our withdrawal functionality. We will provide ongoing updates to you here. We thank you for your attention and patience as we work tirelessly to resolve this situation as quickly as possible.

So,Friends i have a lot of hope that this problem will solve quickly. If it is not solved, surely paypal will lose some Indian members, because most of them don't like check payments. I always prefer bank withdraws only. Now share about your views in this topic. Will it solved soon?

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India get its own Rupee Currency Symbol

The Indian rupee has got its own unique symbol, joining the dollar $, pound £sterling, euro E and the yen as international currencies with an identity that is instantly recognizable worldwide.The Union Cabinet decided on the symbol for Indian Rupee, a privilege (unique identity) available only to major currencies like dollar, euro, pound, sterling and yen.

For getting this symbol On 5th March, 2009 the Indian Government announced a contest for a New Symbol for Indian Rupee with a prize of Rs 2.5 lakh for the winner and 25,000 for the top 5 shortlisted designs and Jury has shortlisted 5 designs.Below are some of these designs.


Among those designs one has been selected by the Cabinet today (July 15th, 2010) which will be the Official Indian Rupee Symbol and was submitted by an IIT post-graduate D Udaya Kumar.


Congratulation, Mr D Uday Kumar for giving us such a simple and innovative symbol for Indian Rupee to fixed its position in International markets. Now India also can use its own currency symbol for all international activities in financial markets. It is the answer to all the strong currency symbol in world available to know that the status of Indian currency symbol in international financial market. So now we can give the Indian Rupee a new face in International financial market.

It is the combination of Indian Devenagari Script and Roman Script as well with the view of Indian Flag in arithmetic way. That will give us to represent our script and culture in world level. The symbol will be printed or embossed on currency notes or coins. The symbol will feature on computer key boards and softwares so that it can be printed and displayed in electronic and print.


The new symbol is a blend of the Devanagari ‘र’ and the Roman capital ‘R’ without the stem. The parallel lines at the top(with white space between them) make an allusion to the tricolor Indian flag.With this the rupee will be the fifth currency in the world after the US dollar, the UK pound, the euro and the Japanese yen to have its own symbol.The Indian government will try to adopt the symbol within six months in the country and globally within 18 to 24 months.

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