PayPal today announced that they are increasing the per transaction limit upto $3000 USD for India based merchants.
Most recently RBI had instructed PayPal to reverse transactions over $500 done since March 2011 (a regulation which PayPal was not enforcing). This could have adversely affected some of the merchants. More details here.
For India based SAAS startups that want to sell globally, this still does not make much of a difference from where it stood earlier. This definitely is something to watch out for.
I think the auto withdrawal feature implemented by PayPal is the more useful one, wherein the money in your account gets automatically deposited to your bank account on a regular basis.
Check out this blog for the official announcement from PayPal.