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Bureaucracy

RBI throttles Paypal - One step forward and two step backward

By anoopjohn - Posted on January 29th, 2011
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I got this mail from paypal today that said that they are adding new restrictions to their offerings to Indian users of paypal because of RBI regulations. The changes have a pre-1990 feel to it. It looks like somebody somewhere thought that a vibrant and growing SME sector is bad for the Indian economy. Just when you started thinking that India is changing and becoming a good place to start your startup.

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