Following the latest guidelines issued by the Reserve Bank of India, popular online banking platform Paypal has made several drastic changes to their user agreement for India. Paypal has already issued notices to their Indian customers about the change. The PayPal letter states: "As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India. With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways (“RBI Guidelines”).
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