Dated 11th February, 2016 | Copy of | -COPY OFA.P. (DIR Series) Circular No.51 |

To,
All Authorised Dealer Category–I Banks

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

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2000, notified by the Reserve Bank vide Notification No.FEMA.10 (R)/2015-RB dated January 21, 2016, as amended from time to time.

2. Pursuant to paragraph 14 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 existing regime shall be...

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