Author: qremilan91

Prior to enactment of The Foreign Contribution (Regulation) Amendment Act 2020, exclusive FCRA bank accounts could be opened in any branch of scheduled banks.   The Foreign Contribution (Regulation) Amendment Act 2020, mandates that each FCRA NGO has to now compulsorily open ‘FCRA account’ in SBI, Main Branch, New Delhi for initial remittance/receipt of foreign contribution (FC) from a foreign source. The State Bank of India has informed that as on 31.07.2021, total of 18377 designated FCRA accounts have been opened with SBI, New Delhi Main Branch. The details of Foreign Contribution (FC) received during last three years as reported in ... Read more