If you can adhere to the minimum quarterly balance requirements of either of those banks, I don't see a better option that getting an account with them.
Entropay is costly alright. Alright for one-time transactions but certainly not something to be used every now and then.
A quick chat with the SBI credit card personnel over phone enlightened me that they were looking for an account balance of minimum 20K for 6 consecutive months as a criterion. The application's chances of getting a CC would become stronger if the applicant had taken some sort of loan from SBI, had an ongoing FD, or used a CC from another bank. I can't vouch if these requirements are uniform across all regions so it'd be good if you can have a chat with the concerned personnel, whose number you can source from your branch itself.
A credit card, regardless of which bank issues it, can be used for transactions involving PayPal.