Accord [PayPal India] ing to PayPal, as per the RBI guidelines, Indians can withdraw funds to local banks in India, but they need to provide the 'Export Code' at the time of withdrawal. The CodeitWell.com site has come up with the details on how to go for an 'Export Code'.
CodeitWell.com website claimed that the 'Export Code' is just the Importer Exporter Code or IEC. It's a 10-digit numeric code issued to Indian companies by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India.
How to Get your IEC?
Download the IEC application form on dgft.gov.in or get it from offices of Director General of Foreign Trade.
