FCRA account requirement mandates designated accounts for receipt and use of foreign contributions, with explicit reporting obligations. The substituted provision mandates receipt of foreign contribution only into a designated FCRA Account, with the Central Government specifying a primary branch of the State Bank of India at New Delhi for remittances. Recipients may open additional FCRA Accounts in scheduled banks to hold, transfer or utilise such contributions, and no non-foreign funds may be deposited in these accounts. The specified SBI branch, scheduled bank branch, or authorised person in foreign exchange must report prescribed remittance amounts, sources and manner of receipt, and other particulars as prescribed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
FCRA account requirement mandates designated accounts for receipt and use of foreign contributions, with explicit reporting obligations.
The substituted provision mandates receipt of foreign contribution only into a designated FCRA Account, with the Central Government specifying a primary branch of the State Bank of India at New Delhi for remittances. Recipients may open additional FCRA Accounts in scheduled banks to hold, transfer or utilise such contributions, and no non-foreign funds may be deposited in these accounts. The specified SBI branch, scheduled bank branch, or authorised person in foreign exchange must report prescribed remittance amounts, sources and manner of receipt, and other particulars as prescribed.
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