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Sadly typical of an Indian bureaucracy whose core competency has forever been to obstruct the free flow of money, goods and services, often for the purpose of positioning well-connected fixers to extract lucrative commissions for pulling the strings that would clear the "roadblocks"



As much as I agree with you on your observations of Indian bureaucracy, I think this case is slightly different.

The RBI wants to treat PayPal like a bank and subject it to the same regulations as other banks (whether those regulations are fair or obstructive is subject for another discussion).

PayPal wants to run around and be bank-like, but not really a bank.


PayPal wants to run around and be bank-like, but not really a bank.

I agree this is true, but I say so in a completely neutral tone, devoid of any judgment. Running around and being X-like but not really an X is the entire point of creating disruptive products and services. For example, Amazon wants to run around and be bookstore-like, without really being a bookstore.

This is obviously bad when they do bad things, and good when they do good things. But it's really the heart of the value proposition for a disruptive service.


This is not entirely true - in the U.S., Paypal does ask for a SSN for large transactions, etc. India's equivalent KYC (know your customer) norms for using the PAN card are not followed.

This is more of an anti money laundering thing than anything else. And in India's case, it is more often than not used to fund terrorist cells.


There is no shortage of banks. There is only one Paypal. If Paypal's customers wanted a bank, they would go open an account at one of India's many actual banks.

Who exactly is being helped by taking away the Paypal option from consumers (besides bankers)?


Actually, there's a few Paypals out there, just not as big and successful as Paypal, but people use them.


Nobody wants to pay taxes on their income. But sometimes we have to do things we don't want to.

Who exactly is being helped by taking away the Paypal option from consumers (besides bankers)?

Presumably it helps the government keep track of your earnings.




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