India banks on regulation changes

Reserve Bank of India plans to make the lives of entrepreneurs easier by simplifying rules and regulations around startups.

Reserve Bank of India has said that it will simplify the rules and regulations surrounding startup growth, according to the Times of India.

The announcement was made by Raghuram Rajan, governor of Reserve Bank of India. The changes are being made to give the startup sector in India a boost to remove the need for entrepreneurs to run from “pillar to post” in order to start a business.

Rajan pointed to various issues faced by entrepreneurs starting businesses such as complicated fundraising contracts to difficulties in selling a company.

Rajan said: "There have been a variety of cases when the entrepreneurs have come to us and told us that they want some relaxations.”

Reserve Bank of India is the central banking institute of the country. Initially it was privately owned while India was under British Rule. However, when the country became independent it was nationalised.

See more from this Government Report: India

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