So today got a mail from Paypal that they are Resuming local bank withdrawals to India

have a look of mail i received from paypal:

PayPal

Dear Abhay Mathur,

We have been diligently working with the RBI and our business
partners to resume Indian bank withdrawals for the thousands
of Indian businesses who depend on PayPal to sell their goods
or services in the global marketplace.

Today, we are happy to announce that the RBI has allowed us
to continue local bank withdrawals for settlements for exports
of goods and services.  We are currently making changes to
comply with Indian regulations for settlements for exports of
goods and services, and we anticipate that, as of Wednesday,
March 3rd, customers will be able to use our
bank withdrawal service.  

As part of the changes, you will be required to fill out a
new field entitled 'Export Code' when you request a withdrawal.
This information is required under the current laws of India in
order to identify the nature of cross-border merchant transactions.  

On Monday, March 1st, we will be back in touch with specific
instructions on how you can move your money into your bank account. 

Moving forward, the RBI has told us that PayPal needs specific
approvals to allow personal remittances to India, which we
currently do not have.  Until we get these approvals, personal
payments into India will remain suspended.  However, if you are
an exporter, you will continue to be able to use the PayPal
service for payments of goods and services.  In fact, with the
changes we are making to our system, PayPal is now set to be a
more powerful engine for exporters in India.  With purpose codes
for export transactions and FIRCs (Foreign Inward Remittance
Certificates), you should now be able to get the export
related benefits you seek. 

You can check the PayPal blog for additional updates.
www.thepaypalblog.com

We thank you for your business and for your patience during
the past few weeks.

Sincerely,

Update:

I asked Payapal guys that when this issue will be solve and we will be able to transfer amount in banks, have a look what they answered.

“Hi,
how  long  will  paypal  take  to  restore  withdraw  payment  in  banks,

Dear Abhay Mathur,

Thank you for contacting PayPal.

Thank you for giving us the opportunity to be of service and for
choosing PayPal for your online payment needs. We value your business
and we look forward to further strengthening your customer satisfaction.
For further assistance, you can visit www.PayPal.com/101 or you may also
call us at 1-402-935-2080.

Now Paypal Sucks for Indian, All services payment are sending Back,

my all transaction that was not personel payment but was simple payment for services was send back to clients, and now its wasting a ton of Time to again remind them for payment, even many one still not paid and i am waiting for them, why the hell this happens with Indians Only, why they implementing without a notice,

Its really horrible,  Paypal really hurt a Lot,

read more discussion related Paypal here>> http://forums.digitalpoint.com/showthread.php?t=1681660

Same as paypal says verify your Debit/Credit Card but the hell is this debit card is never verified by Paypal, why the hell they show this option then, It Shows how careless they are for India, Hope one day they will do something for India also…

please post your comment for this..