If you haven’t read the previous part of this, read it here Paypal resumes local bank withdrawls to India
As we told that we’ll provide updated bank withdrawl instructions after March-1-2010.Today we are going to provide the same.
New Bank Withdrawl Instructions for your Paypal Account
You can withdrawl amounts to your bank account from March-3-2010.What if you have requested for a withdrawl before March-3-2010 ? Don’t worry your amount will be refunded back to your paypal account with all the charges applied by the end of this week.
So, lets talk about the withdrawl instructions ! After March-3-2010 each time when you select to “withdraw funds” they will ask you to fill a new field entitled ” Purpose code ” This information is required under the laws of India in order to identify the nature of cross-border merchant transactions and helps your bank furnish information that may be required by RBI to identify the nature of cross border transaction.
Read the complete details @ The paypal blog