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E-communique released on FCRA IMPACT – Public Notice regarding Designated Bank Account 

Oct 13, 2020 Circulars & Notifications Attachment

FCRA IMPACT – Public Notice regarding Designated Bank Account 

FCRA Department vide a "Public notice" dated 13th October, 2020 has prescribed the procedures for opening of Designated bank account in SBI, Sansad Marg Branch, New Delhi. It has, in effect, given relief to the NGOs to open the bank accounts in the specified branch till 31st March, 2021. In other words, the NGOs can receive FC funds in their existing designated bank account till the following time limits

Date of opening of Account in the said Branch or
31st March, 2021
whichever is earlier. 

We are presenting herewith  our next issue of "Standards and Norms" of the Series "FCRA Impact" which is "Public notice regarding designated Bank Account". Our analysis of the latest notice and the public notice issued in this regard has been attached herewith for your reference. We hope you will find it useful and it will clarify a lot of issues and questions that you may have.

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