Wrong/old branch IFSC code, as long as it is from the SAME BANK, will not cancel your transfer but might delay your transfer, which is what seems to be happening in this case. Go to the Activity section of PayPal, select the bank withdrawal transaction (click BANK), then scroll down and click on Resolution Centre (for this transaction). Follow the instructions on the next page. It's now 21st November, have you received your money yet. PayPal India seems to be having some delay at the moment.
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