RBI sets up helpline for guiding start-ups on forex matters
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The Reserve Bank of India on Tuesday said it has created a dedicated helpline (helpstartup@rbi.org.in) for start-ups in India in order to offer guidance/assistance for undertaking cross-border transactions within the ambit of the regulatory framework.
While seeking guidance, the enterprises should provide complete information to the Reserve Bank and mention the specific issues on which they need guidance in relation to the Foreign Exchange Management regulations. This would enable the personnel attending the helpline to offer timely and effective information.
Start-up enterprises usually undertake a wide range of cross-border transactions including those related to investment. Cross-border transactions of resident Indians are subject to the regulatory regime provided by the Foreign Exchange Management Act, 1999 (The Hindu Business - PTI)
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