Reporting Obligation: Banks must notify government within forty-eight hours of any foreign contribution receipt or utilisation. Banks must report to the Central Government any transaction in respect of receipt or utilisation of foreign contribution by any person, whether or not ... Summary
Reporting Obligation: Banks must notify government within forty-eight hours of any foreign contribution receipt or utilisation.
Banks must report to the Central Government any transaction in respect of receipt or utilisation of foreign contribution by any person, whether or not such person is registered or granted prior permission, and must do so within forty-eight hours, placing an immediate, time bound notification obligation on banks to transmit details of such transactions.
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