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ARTICLE · 12 JULY 2017

Startup India Initiative (October 2016 - December 2016)

Seth Dua & Associates
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The Reserve Bank of India vide Notification dated October 27, 2016 has issued guidelines for startups to access debt or debt instruments under the External Commercial Borrowing framework.

IndiaCorporate/Commercial Law
Seth Dua & Associates
Seth Dua & Associates
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RBI issues ECB Guidelines for Start-Ups

The Reserve Bank of India (RBI) vide Notification dated October 27, 2016 has issued guidelines for startups to access debt or debt instruments under the External Commercial Borrowing (ECB) framework. Start-ups can borrow up to $3 million or equivalent per financial year — either in rupees, or any convertible foreign currency or a combination of both — for a minimum average maturity period of three years, under the ECB framework.

'Startup' has been defined as a private limited company (as defined in the Companies Act, 2013), or a registered partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act,2002), which fulfills the following conditions:

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