NGO - Receipt of Foreign Donations
Asked By
NGO HAS GOT PERMISSION FROM MHA TO RECEIVE FOREIGN DONATIONS, AND HAS OPENED A/C WITH ICICI BANK TO RECEIVE FOREIGN DONATIONS. BUT NOW BANKS IN U.K. AND CANADA ARE NOT RECEIVING FUNDS AND SAYING NO FUNDS CAN BE TRANSFERED TO NGO IN INDIA.ONLY FUNDS TO INDIVIDUAL A/C CAN BE TRANSFERRED. IS THIS VERSION OF FOREIGN BANKS CORRECT.