All banks have to report certain receipts to FCRA Department.
There are two kinds of receipts which have to be reported:
1. Where a person receives
foreign contribution, without FCRA registration or prior-permission.
2. Where a person receives
foreign contribution of Rs.1 crore or more in a calendar month.
In both cases, the report is to
be sent within 30 days.
The Ministry now wants this
information to be reported online. Banks have to create a user ID and password
for this. The report can be created in Excel, CSV or txt formats, and then
uploaded.
Online reporting for bank is
optional till 31st October.
From 1st November’13,
it will become compulsory.
Reference:
· MHA letter
No.II/21022/23(70)/2013-FCRA-
