Just 2 days after Paypal had announced that they will be stopping electronic fund withdrawals or direct deposits to Indian banks, Paypal surprised everyone by reversing its decision to stop electronic fund withdrawls.
Indian users can now perform electronic withdrawls as they did before. The Paypal team also mentioned that they will continue providing the $5 USD processing fee refund for any cheque withdrawals made from July 29, 2010 until further notice.
Here is the official announcement made by Paypal.
This announcement of resuming electronic withdrawal service is a huge relief to millions of PayPal users in India. It's glad that Paypal resolved the issue pretty quickly.
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