Begin forwarded message:
> From: Times of Assam <timesofassam-f...@feeds.timesofassam.com> > Date: February 16, 2011 4:05:43 PM CST > To: cmaha...@gmail.com > Subject: Times of Assam > > Times of Assam > > > RBi guidelines for PayPal make no sense > Posted: 16 Feb 2011 11:10 AM PST > > : Priyankan Goswami, February 17, 2011 > > After the nationwide dissatisfaction shown by Indian IT Service providers and > freelancers against the RBI’s recent Regulations which led PayPal to declare > new rules for Indians, the Government officials and state sponsored analysts > are seen making efforts to showcase that this directive is actually good for > the people. These pro-RBI campaigners are claiming that the new restrictions > will prevent Indians from bringing in black or corrupted money in huge > amounts from outside India, such as the Swiss Banks. > > The way PayPal works in India is that when an amount is transferred from a > different country to an India, the money is first transferred to the PayPal > India’s account through SWIFT, which is then further transferred to > Individual bank accounts of people using the service. However no bank in > India will give a blind eye and simply accept a huge transaction, say one > million dollars, to a particular account holder. In all ideal scenario, this > will be questioned and to be justified by the account holder. So the measures > of ensuring that huge amounts of black money are not brought into India were > already present in current banking system and the PayPal stir is completely > unnecessary. > > In case the Government is suggesting that Indian Banking system is not > capable of the above, then it proves the entire Indian Banking system is > fraudulent. And the PayPal conflict is only a useless gimmick, as reported in > our previous stories RBI Guidelines to PayPal make life hell for IT Service > Providers and PayPal’s new rules based on RBI Guidelines : Blow on Indian > Freelancers. > > > You are subscribed to email updates from Times of Assam > To stop receiving these emails, you may unsubscribe now. Email delivery > powered by Google > Google Inc., 20 West Kinzie, Chicago IL USA 60610 _______________________________________________ assam mailing list assam@assamnet.org http://assamnet.org/mailman/listinfo/assam_assamnet.org
