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Showing posts from September, 2016

RBI eases norms for startup

The RBI has allowed Foreign Venture Capital Investors (FVCIs registered with the SEBI) to invest in Indian startups without any prior permission from the central bank.
The RBI defines a ‘startup’ as any private limited company, partnership or a limited liability partnership, registered in India less than five years ago, with a turnover of less than Rs 25 crore during any of the preceding financial years. 
Such entities, the central bank stipulates, should be “working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.”