Finally, after couple of months of painful times for many of the freelancers in India, we have some good news.
Now, you can withdraw funds from your PayPal account to your bank accounts.
There are some criteria that you have to meet, but that should not be a problem for most of the people who are doing business. It still will be a problem for those who would just want to send money to individuals and I don't know how that will be addressed in the near future.
You can read more about this here;
Hope this helps.
Srinath
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