@navjotjsingh
ICICI or HDFC may need a min balance of 5K to start account (and maintain too). But SBI, you need only Rs.750 min balance. So it worth even opening a new account for this.
@blackpearl
Withdrawing to Visa debit cards - option is already there.
Read more at the link below
Withdraw Paypal Funds to Your VisaŽ Card
From that page ....
We’re pleased to announce the launch of a new withdrawal feature, allowing you to transfer funds from your PayPal account to your VisaŽ branded credit, debit or prepaid card. This new feature will enable you to gain convenient access to your funds and is available in 26 countries, including Malaysia, India, Indonesia and the Philippines.
Important:You’ll need to be a verified PayPal member to use the new withdrawal feature