India Tightens Oversight on Funds Received by NGOs
The Ministry of Home Affairs (MHA) has laid down a charter for banks to tighten oversight on funds received by non-governmental organisations (NGOs).
- As per the existing rules, all banks have to report to the Central government within 48 hours, the receipt or utilisation of any foreign contribution by any NGO, association or person whether or not they are registered or granted prior permission under the Foreign Contribution Regulation Act (FCRA).
Charter for Banks
- The charter says that donations received in Indian rupees by NGOs and associations from any foreign source even if that source (including foreigners of Indian origin like ....
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