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Saturday, July 1, 2017

Govt asks 3,768 NGOs to validate bank accounts designated for foreign contribution

Government has asked over 3,765 NGOs across the country to validate their foreign contribution designated accounts with banks, failure of which will invite penalty.

Home ministry, in a circular on Friday said, all NGOs which were registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.

It further said, it is seen that a number of NGOs have not validated their accounts, causing problems for the banks to comply with the FCRA provisions.

The ministry also announced a list of 2,025 NGOs which have not yet validated their FCRA designated accounts. The central government, which has tightened the rules for NGOs, has already cancelled registration of more than 10 thousand NGOs in last three years for alleged non-filing of annual returns as mandated in the FCRA.

Source: http://theindianawaaz.com/govt-asks-3768-ngos-to-validate-bank-accounts-designated-for-foreign-contribution/

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