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Regulatory relaxations for start-ups- Clarifications relating to acceptance of payments

FEMA - 51 - Dated:- 11-2-2016 - RBI/2015-16/318 A.P. (DIR Series) Circular No. 51 February 11, 2016 To, All Authorised Dealer Category - I Banks Madam/Sir, Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to the Foreign Ex .....

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of the Sixth Bi-Monthly Monetary Policy Statement for 2015-16, Reserve Bank of India vide Press Release dated February 2, 2016, had announced that in case of start-ups, to facilitate ease of doing business, certain permissible transactions under the .....

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foreign currency account abroad to pool the foreign exchange earnings out of the exports/sales made by the concerned start-up; The overseas subsidiary of the start-up is also permitted to pool its receivables arising from the transactions with the re .....

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atriated to India within a period as applicable to realisation of export proceeds (currently nine months); A start-up is also permitted to avail of the facility for realising the receivables of its overseas subsidiary or making the above repatriation .....

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