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Can NGOs receive foreign contributions pending MHA approval as their services required:HC to Centre SECTIONS Last Updated: May 13, 2021, 09:02 PM IST Share Synopsis The query by Justice Prathiba M Singh came during hearing of the pleas by two NGOs which had not yet received approval of the Ministry of Home Affairs (MHA) despite applying for and opening an FCRA account in the State Bank of India (SBI) in accordance with the amended provisions of the Foreign Contribution Regulation Act (FCRA). The court said that if the application for MHA approval has any defects, the same shall be pointed out to the petitioner NGOs by May 17 so that approvals can be granted at the earliest. ....
Most NGOs don’t have SBI account Updated: Updated: From April 1, a Delhi account is a mandatory provision to receive foreign funds Share Article From April 1, a Delhi account is a mandatory provision to receive foreign funds An Assam-based NGO has also moved the Gauhati High Court against another amended provision of the Foreign Contribution (Regulation) Act (FCRA) that makes Aadhaar mandatory for opening and operating the account in Delhi. The Gauhati High Court on May 5 sent a notice to the SBI asking it to explain why Aadhaar was necessary to open a bank account, when in 2018, the Supreme Court in the ....
The Centre may temporarily waive amended provisions of the Foreign Currency Regulation Act for NGOs following the public health emergency and lack of infrastructure. ....
Synopsis The future of cryptocurrencies, an asset class that has created immense wealth for investors across the world, is uncertain in India. While the global cryptocurrency community’s eagerness to help India fight a deadly second wave of the pandemic is commendable, the regulatory environment in the country could be a stumbling block. It all started with a tweet over the weekend.“Can’t take this sitting down anymore, I am going to run a Covid relief campaign… Need help from the global crypto community. I will take full responsibility for transparency, funds’ usage, and regulatory compliance,” Sandeep Nailwal, chief operations officer at Ethereum (ETH) scaling platform Polygon, tweeted on Saturday.Nailwal’s call for help from the global community came at an opportune time as ....
Philanthropy Pie Boosted Mainly by Individual, Family Contributions in FY 20: Report While increasing marginally, the share of philanthropic contribution by domestic companies and foreign sources decreased in the overall pie in FY 20 in comparison to FY 19. Representative image. Photo: Perry Grone/Unsplash, (CC BY-SA) Business16/Mar/2021 New Delhi: The share of philanthropic contribution by domestic companies declined from 29% in FY’19 to 28% in FY’20 in the overall pie, according to the 11th edition of the India Philanthropy Report 2021. The share of foreign funding, which has seen an increased scrutiny by the central government, has also declined from 31% in FY’19 to 25% in FY’20. ....