RBI guv Shaktikanta Das gave this advice to startups for long term sustainability
The RBI governor was addressing an event organized by the Central Board of Indirect Taxes and Customs.
Image credit:TheIndianExpress
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On Thursday, June 9, the RBI governor Shaktikanta Das advised Indian startups to constantly evaluate the risks and vulnerabilities to make their business sustainable in the long term.
The RBI governor was addressing an event organized by the Central Board of Indirect Taxes and Customs. In the current scenario, several startups are facing difficulties to raise funds resulting in laying off employees to cut operational costs. Indian entities like Unacademy, WhiteHat Jr and Vedantu have seen a mass resignation this year.
Das called it an “unsolicited advice” and said that young entrepreneurs understand the risk and risk-taking is a part of entrepreneurship. Evaluation is important for long term sustainability.
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Das further said that technologies have been constantly been introduced in businesses in every sector which can accelerate growth. “A reflection of this is seen in the emergence of several startups in the Indian business landscape as young entrepreneurs experiment with ideas in digital payments, online retail, on-demand delivery, education, software and more,” said Das.