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of <h1>Foreign Contribution Regulation Act Mandates Strict Banking Protocols for Receiving International Funds via Designated FCRA Accounts</h1> The statutory provision details regulations for receiving foreign contributions through designated bank accounts. Entities granted certificates must open a primary 'FCRA Account' at a specified State Bank of India branch in New Delhi. Additional accounts can be opened in scheduled banks for utilizing foreign contributions. No other funds may be deposited in these accounts. Banks are required to report foreign remittance details, including amount, source, and manner of receipt, to specified authorities in prescribed formats.
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