Reserve Bank of India (RBI) released an amendment in Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015. The amendment to the Foreign Exchange Management Regulations is in accordance with the definition of Start-ups provided by Department for Promotion of Industry and Internal Trade (DPIIT) in the Notification dated 19th February 2019 with streamlined access to foreign currency accounts, fostering ease of business and innovation.
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