#BREAKING
FCRA Amendment Bill: No public servant, as defined in Sec 21 of IPC, can receive foreign contributions; NGOs can use only 20% (down from 50%) of foreign contributions towards admin expenses; aadhaar no of all key functionaries mandatory with application for FCRA licence
FCRA Amendment Bill: No public servant, as defined in Sec 21 of IPC, can receive foreign contributions; NGOs can use only 20% (down from 50%) of foreign contributions towards admin expenses; aadhaar no of all key functionaries mandatory with application for FCRA licence
https://twitter.com/TOIIndiaNews/status/1307566459875278850
#BREAKING: As per FCRA Amendment Bill listed for introduction in LS today, NGOs can receive foreign funds only in designated FCRA account to be opened in SBI branch in New Delhi. However they may open one or more utilisation accounts in bank of their choice
Important: The SBI, New Delhi branch or any other bank subsequently notified, where such designated FCRA account is opened, shall report to the home ministry the prescribed amount of foreign remittance, the sources and manner in which it was received and other particulars.
The annual inflow of foreign contribution to NGOs/Associations in India has almost doubled between 2010 and 2019 but many have not utilised the funds for the declared purpose. As a result, MHA had to cancel FCRA certificates of over 19,000 organisations between 2011 and 2019
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