Master Circular - Foreign Contribution ( Regulation ) Act, 1976 - Obligations of Banks in Regulating Receipt of Foreign Contributions by Associations / Organizations in India
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Foreign contribution regulation: banks must apply enhanced due diligence and monitoring to inward contributions and ensure branch compliance. Banks must regulate receipt of foreign contributions by applying due diligence, transaction monitoring and reporting measures under the Foreign Contribution framework; the updated instructions reiterate bank compliance obligations to detect, record and report suspicious inward remittances and require dissemination and implementation of the Master Circular across controlling offices and branches.
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.
Foreign contribution regulation: banks must apply enhanced due diligence and monitoring to inward contributions and ensure branch compliance.
Banks must regulate receipt of foreign contributions by applying due diligence, transaction monitoring and reporting measures under the Foreign Contribution framework; the updated instructions reiterate bank compliance obligations to detect, record and report suspicious inward remittances and require dissemination and implementation of the Master Circular across controlling offices and branches.
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