Paypal Asia has sent a notice via email to all its users living in India , that by 1st of August 2010 , they will temporarily stop electronic money transfer to their bank accounts in India. The only mode of withdrawal will be through cheque , that will be mailed at their portal address. However , the check processing fee of 5$ will be waived for the time being .
So those who are uncertain about cheque transaction , may lift all the money from their Paypal account on or before 29th July 2010.
Here is an excerpt from the mail they sent this morning :
Sample Paypal Check : Paypal – Citibank