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        FEMA

        This notification amends the Foreign Exchange Management...

        Foreign Currency Accounts: 'Startup' definition aligned with govt notification for regulatory compliance & clarity.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                This notification amends the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015. It substitutes the explanation to sub-regulation 5E and para 1(vii) of Schedule I, redefining the term 'startup' to mean an entity recognized as a startup by the Department for Promotion of Industry and Internal Trade pursuant to notification G.S.R. 127(E) dated February 19, 2019, and as amended from time to time. The amendment aims to align the definition of 'startup' with the government's notification for better regulatory compliance and clarity.
                                Note: It is a system-generated summary and is for quick reference only.
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