PayPal Compliance with RBI Guidelines

 The Reserve Bank of India (hereinafter “RBI”), the apex financial regulatory institution of India, on 16th day of November 2011 issued a notification regarding the Processing and Settlement of Export related receipts facilitated by online payment gateways. E-Commerce activities are already week as compared to the potential of the same in India due to many reasons like, inter alia, poor internet reach. The government has adopted numerous policies to increase the reach of Internet. . The new notification, in the author’s belief shall further slow down the pace of E-Commerce activities in the country.

Continue reading