RBI has created a dedicated helpline for startups which will provide guidance to them for undertaking cross-border transactions within the ambit of the regulatory framework.
While seeking help, 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,” said RBI in a statement.
The statement added, “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.”
RBI helpline / Email ID : firstname.lastname@example.org