New PayPal rules for Indian Users effective from 1st March 2011

Received an email this morning from PayPal, this can cause headache for Indian PayPal Users (Specially Freelancer, Merchants who are fully depended on Paypal), According to which PayPal Indian users cannot use their account balance for purchase of any Goods or Services and balance needs to be transferred into Indian Bank Account within 7 days from date of receiving it, this means you can only make purchase by Credit Card linked into PayPal.
All this has happens because of new rules made by Reserve Bank of India (RBI)

This New Rules will be effective from 1st March 2011

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