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HomeNationalRs. 49,000 crores foreign funds received by Indian NGOs: Minister Nityanand Rai

Rs. 49,000 crores foreign funds received by Indian NGOs: Minister Nityanand Rai

New Delhi: Union Minister of State for Home Nityanand Rai said in Rajya Sabha that more than 18,000 NGOs received Forty-nine thousand crores in foreign funds between FY18 and FY20.

The Minister said NGOs in 1017-2018 receives Rs 16,940.58 crores, Rs 16,525.73 in 2018-1019 and Rs 15,853.94 crores in 2019-20.

In reply to a question, Minister Rai asserted earlier to the enactment of the Foreign Contribution (Regulation) Amendment Act, 2020, exclusive FCRA bank accounts could be opened in any branch of that particular bank.

However, now the Foreign Contribution (Regulation) Amendment Act, 2020, directs each FCRA NGO to compulsorily open an FCRA account in the main branch of State Bank of India, New Delhi, for the earliest payment of foreign contribution from a foreign source.

Meanwhile, SBI stated that on July 31, 2021, 18,377 FCRA accounts have been opened in New Delhi’s main branch.

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