is still in a wait and watch mode before it goes back to the markets with a formal announcement, CEO Nitish Mittersain said.
“Now we are feeling a bit more relaxed about that. As soon as we are able to, we will transfer the funds out. We will not be able to bring in the funds back to India for sure, because these are funds held by subsidiaries in the US,” Mittersain said.
One option is moving money to Gift City where people are opening dollar accounts to be able to conduct foreign .
Big relief
Ayush Pateria, cofounder and chief executive of Bengaluru-based startup Snazzy, said the news of deposits being accessible came in as a great relief. “All the depositors will be 100% protected, and all the money will be made available starting Monday. Most startups are currently figuring out where they want to move this money to,” he told ET.
“There are multiple options — for people who have alternative accounts in the US will move money there, and they ..