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RBI allows Start-ups to raise fund through ECBs

Updated on: 09 Aug, 2023 10:39 AM

Reserve Bank of India has allowed start-ups recognised by the government to borrow up to $3 million per financial year for a three-year tenure through External Commercial Borrowings (ECBs).

The money raised can be used for any expenditure connected with the business of the company. The borrowing can be in the form of loans or non-convertible, optionally convertible or partially convertible preference shares, RBI said adding that it can be done in any convertible currency or in Indian rupees.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.