Govt asks 3,768 NGOs to validate overseas fund accounts with banks

Under the FCRA Act, organisations are required to validate their foreign designated accounts

As many as 3,768 NGOs across the country have been directed by the Home Ministry to validate their foreign contribution designated accounts with banks, failure of which will invite penalty.

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

However, it is seen that a number of such organisations have not validated their foreign contribution designated accounts, causing problems for the banks to comply with the FCRA provisions that they (banks) report to the Central government within 48 hours of