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Looks like Indian Paypal users have to take another big blow - According to article appearing on Labnol, Paypal India is set to reverse all the payments above USD 500 that have already been made to Indian paypal users since March 2011.…

This was expected to happen – Paypal has informed their Indian users that, to receive payments in their Bank accounts from paypal, they will now have to furnish a Purpose code along with PAN (Permanent Account Number) and Bank Account…

Paypal seems to have brought out some clarity regarding India based Bank withdrawals. According to the post made by Farhad Irani today on paypal blog,