Never heard of instamojo so I just checked it out.
According to its FAQ [0],
> 5. When do I get paid. .... For offers selling in INR, the amount would be remitted to your Indian bank account if it has crossed minimum payment threshold
of ₹500. For offers selling in USD, the amount would be remitted to your Paypal account
Since most of your customers will be paying in USD (I guess),, Instamojo will anyway be paying as per above to your Paypal account. So, IMO, you should sort out Paypal account. (Or talk to Instamojo if they have this option to directly convert USD payments to INR and remit them to your bank account.)
