News : The Reserve Bank Creates Dedicated Helpline
Mumbai, India, Dec 22, 2015 -- The Reserve Bank on Tuesday said it has created a dedicated helpline to assist start-ups undertaking cross-border transactions.
"While seeking guidance, the enterprises should provide complete information to the RBI and mention the specific issues on which they need guidance from the RBI in relation to the Foreign Exchange Management regulations," the central bank said in a statement.
This would enable the personnel attending the helpline to offer timely and effective information, it said.
Start-up enterprises usually undertake a wide range of cross-border transactions including those related to investment, it said.
Cross-border transactions of resident are subject to the regulatory regime provided by the Foreign Exchange Management Act, 1999, it said.
Posted by Veronica Silva Cusi, news correspondent
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The Reserve Bank of India is India's Central Banking Institution, which controls the Monetary Policy of the Indian Rupee.
Published: Wednesday, December 23, 2015