RBI eases FVCI norms for startups

BIZ

Mumbai: Foreign Venture Capital Investors (FVCIs) can invest in Indian startups without prior permission of the RBI, the central bank said on Thursday. Sebi-registered FVCIs have also been permitted to invest in unlisted firms in sectors like biotechnology, nanotechnology and dairy without prior permission of the RBI. They will not require any approval from RBI and “can invest in...equity or equity linked instrument or debt instrument issued by an Indian ‘startup’ irrespective of the sector in which the startup is engaged,” it said. — PTI