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RBI helpline for start-ups

The Reserve Bank of India has set up an exclusive helpline for startups wanting to get advise on cross border remittances, which are subject to FEMA. The regulator said the helpline will help these start-ups in raising funds from offshore sources. The helpline is an email ID ([email protected]) through which RBI will respond to queries. The central bank said that it will offer guidance/assistance to them for undertaking cross-border transactions within the ambit of the regulatory framework. Start-ups, often initiated by freshers and people with little or no experience in the formalities required to be completed in obtaining funding from overseas sources have often been finding it difficult to comply with FEMA regulations and RBI feels the helpline will be of immense help to such entrepreneurs.

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