FCRA Bank Account for #NGO or #Nonprofit Companies
? Type of A/c – Saving
? Fund Required: Zero Balance
? Validity: depends on FCRA status
? Required For: All new FCRA Applicants as well as existing FCRA holders.
Finance Center in association with top pvt banks is offering ‘free of cost’ door step service to open fcra bank account.
If you need it then feel free to make a call back request at financecenter.in/contact
Tightening the rules for
NGOs, the Home Ministry has asked as many as 5,845 organisations to open
their accounts in banks having core banking facilities and furnish
details for real time access to security agencies in case of any
discrepancy.
It is the latest in a series
of steps taken by the NDA government aimed at checking “errant” NGOs,
especially those receiving foreign funding. Registration of more than
10,000 NGOs have been cancelled and more than 1,300 have been denied a
renewal over the last three years for various violations.
As of now, there are around 24,000 active NGOs in the country as against 40,000 in 2014—15.
In a communication, 3,768
NGOs have been told that their bank accounts are not available as per
core banking format while 2,077 NGOs have been asked to furnish bank
accounts details as no such data is available with the home ministry.
The move came after it was
detected that many NGOs have their bank accounts in cooperative banks or
state government— owned apex banks or banks which do not have core
banking facilities, official sources said.
The Home Ministry wants that
all NGOs registered under the Foreign Contribution Regulation Act
mandatorily have their accounts in either nationalised banks or in a few
private banks which have core banking facilities.
Under core banking system,
all the branches of the networked banks are interconnected. This would
allow the security agencies to access the accounts of the NGOs on real
time basis.
PTI / 10 May 2017
