Bank reporting of foreign contributions requires prompt disclosure of every receipt or utilisation, irrespective of registration or prior permission.

Rule 16 requires every bank to report to the Central Government within forty-eight hours each transaction concerning receipt or utilisation of foreign contribution. This duty applies to every recipient, regardless of whether registration or prior permission has been obtained. The rule replaces an earlier framework that prescribed differentiated thirty-day reporting duties for recipients without required approval and certain high-value foreign contribution receipts.

---

---

---