Who: Dedicated Helpline for guiding Start-ups on Forex Matters
What: Created by RBI
When: 22 December 2015
The Reserve Bank of India (RBI) on 22 December 2015 created a dedicated helpline (Email) for start-ups in India in order to offer assistance on Forex matters to them for undertaking cross-border transactions within the ambit of the regulatory framework
While seeking guidance on the helpline, the enterprises will be asked to provide complete information to the Reserve Bank and mention the specific issues on which they need guidance from the Bank in relation to the Foreign Exchange Management regulations.
This will enable the personnel attending the helpline to offer timely and effective information. Generally, Start-up enterprises 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.