Over Rs 49,000 crore in foreign funds were received by more than 18,000 NGOs in India in 3 years
Over Rs 49,000 crore in foreign funds were received by more than 18,000 NGOs in the country in the last three years, Rajya Sabha was informed on Wednesday.
Union Minister of State for Home Nityanand Rai said Rs 16,940.58 crore were received by the NGOs in 2017-18, Rs 16,525.73 crore were received in 2018-19 and Rs 15,853.94 crore in 2019-20.
Mr Rai, in a written reply to a query, said that prior to the enactment of The Foreign Contribution (Regulation) Amendment Act 2020, exclusive FCRA bank accounts could be opened in any branch of scheduled banks.
The Foreign Contribution (Regulation) Amendment Act 2020, mandates that each FCRA NGO has to now compulsorily open an 'FCRA account' in SBI, Main Branch, New Delhi for initial remittance/receipt of foreign contribution (FC) from a foreign source.
The State Bank of India has informed that as on July 31, 2021, a total of 18,377 designated FCRA accounts have been opened with SBI, New Delhi Main Branch, Mr Rai said.
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