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of <h1>RBI Issues Master Circular on Bank Obligations Under Foreign Contribution Regulation Act, Effective July 1, 2008.</h1> The Master Circular outlines the obligations of banks under the Foreign Contribution (Regulation) Act, 1976, regarding the regulation of foreign contributions received by associations and organizations in India. Issued by the Reserve Bank of India, it updates previous instructions and mandates that all scheduled commercial banks and financial institutions, except regional rural banks, ensure compliance with these guidelines. The circular, effective from July 1, 2008, requires banks to disseminate the updated instructions to their controlling offices and branches to ensure proper implementation. The document is accessible on the Reserve Bank of India's website.
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