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Tuesday, February 01, 2011

Paypal and RBI dumps Indian freelancers.

I feel humiliated due to the latest Paypal policies concerning the freelancers in India. The freelancers in India are bringing thousands of U.S.Dollars without ever leaving their country. Their effort and service to India should be highly acclaimed by those governing the nation.

On the contrary, the freelancers are always treated without respect. Take a look at the Paypal policies that will be implemented from March 1st 2001.

I quote Paypal below:
In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:

  1. Any balance in and all future payments into your Paypal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services.

I understand this point and I welcome it to a certain extent. Yes, the foreign currency we earn as freelancers should come into Indian Forex reserves but why this 7 day deadline? What will happen to the money if it is not withdrawn in 7 days?

How can we buy domain and hosting if I don’t have a credit card. Now, don’t tell me hosting packages can be bought from India paying Indian rupees. They are stupidly costly and come nowhere near the hosting package offered by Blue Host or similar vendors.

There are thousands of freelancers that are selling products and services through their blogs and website. Their payment gateway is Paypal that is offering excellent service to Internet merchants all over the world.

Now, no Indian can buy through my website by paying USD. Fine enough. Indians should pay Indians only in their national currency. However, who will provide e-commerce facility in India matching Paypal’s offer?

I know I am only shouting like frog and the noise will get unnoticed among all the thousands of frogs that croak along with me.

However, this is my blog; I am venting my feelings.

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