RBI eying on Paypal and paypal asking Pan number

Recently, I have also received the notification from Paypal. I have already updated my PAN details, but not yet disclosed the bank account details. As a result, I can't receive or withdraw money from my Paypal account.

The government has to be cautious about the illegal ways of money flow into the country by any source. paypal can be misused and so they are tightening the security and that's all. We need not worry as what we withdraw is very little. Yet, asking for a pan card will secure transactions.

I feel its good that they are asking PAN and that is a good sign. probably they are filtering out the illegal flow of money, and want to identify who are the reciepients. we cant do much about it as paypal has to comply with RBI regulations.

It is always better, to abide by the rules of Government. It is only to check out, the illegal transaction. PAN card is the identity of a valid national. So, only the legal customer will transact, through the Indian banks. I have a small amount in my Pay Pal account. But, as it was asked, immediately, I have submitted, my Pan card details to Pay Pal.

Before i had many paypal account as my email id. But now cant able to use anything since i dont have pan card. Now i am using only my hubby paypal account for transaction.