PIB News Update: The Ministry of Home Affairs (MHA) has permitted existing Foreign Contribution (Regulation) Act (FCRA) account holders to open their “FCRA Account” in the New Delhi Main Branch (NDMB) of the State Bank of India (SBI), 11 Sansad Marg, New Delhi – 110001 up to 30.06.2021. After that date they shall not be eligible to receive foreign contribution in any account other than the “FCRA Account” opened in the NDMB.
The MHA has said in a Public Notice which is available on www.fcraonline.nic.in, that all persons/NGOs/Associations who already have been granted a certificate of registration or prior permission by the Central Government, should note that they shall not receive any foreign contribution in any account other than the designated “FCRA Account” opened at the NDMB of the SBI, 11 Sansad Marg, New Delhi – 110001 from the date of opening of such account or 01.07.2021, whichever is earlier.
Existing FCRA Account Holders were earlier given time till 31.03.2021 to open their FCRA account in the NDMB under the amended Section 17(1) of the FCRA, 2010. The amended section had come into effect on September 29, 2020. The extension in time has been given in view of the exigencies arising out of the COVID-19 situation and to ensure smooth transition by NGOs to the amended FCRA regime