Subject: Procedure for opening and operating the designated “FCRA Account” as provided under the amended Section 17(1) of The Foreign Contribution (Regulation) Act, 2010. FCRA Bill 2020.
The Foreign Contribution (Regulation) Amendment Act, 2020 has come into operation vide Gazette Notification dated 29” ‘September 2020. The amended Section 17 of the Foreign Contribution (Regulation) Act, 2010 provides as under:
“17. (1) Every person who has been granted a certificate or given prior permission under section 12 shall receive foreign contribution only in an account designated as “FCRA Account” by the bank, which shall be opened by him for
the purpose of remittances of foreign contribution in such branch of the State Bank of India at New Delhi, as the Central Government may, by notification, specify in this behalf:
Provided that such person may also open another “FCRA Account” in any of the scheduled banks of his choice for the purpose of keeping or utilizing the foreign contribution which has been received from his “FCRA Account” in the
specified branch of State Bank of India in New Delhi.
Provided further that such person may also open one or more accounts in one or more scheduled banks of his choice to which he may transfer for utilizing any foreign contribution received by him in his “FCRA Account” in the specified
branch of the State Bank of India at New Delhi or kept by him in another “FCRA Account” in a scheduled bank of his choice:
Provided also that no funds other than foreign contribution shall be received or deposited in any such account.
An Authorized banking Officer of SBI. New Delhi Main branch.
The specified branch of the State Bank of India at New Delhi or the branch of the scheduled bank where the person referred to in sub-section (1) has opened his foreign contribution account or the authorized person in foreign exchange, shall report to such authority as may be specified, –
(a) the prescribed amount of foreign remittance;
(b) the source and manner in which the foreign remittance was received; and
(c) other particulars, in such form and manner, as may be prescribed.”
State Bank of India (SBI), 11, Sansad Marg, New Delhi. Pin – 110001
Branch Code 00691
IFSC: SBlNOOOO691
SWIFT: SBlNlNBB104
e-mail:
[email protected]
[email protected]
[email protected]
31st March 2021
All fresh applicants for a certificate of registration or prior permission under the FCRA, 2010 shall have to first open the “FCRA Account” in the NDMB to receive any FC if they are granted a certificate of registration or prior permission by the Central Government later on.
Yes, you can receive funds till 31 March 2021. But you are advised to open the SBI FC account as soon possible in SBI New Delhi Main Branch. To open the “FCRA Account” in the NDMB the applicant entity/NGO/association need not the visit the NDMB at Delhi. They may approach either the nearest SBI Branch or any other SBI Branch of their choice for acting with regard to the opening of their “FCRA Account”.
With effect from 01 April 2021 or from the date of opening the SBI FCRA Account in New Delhi Main Branch, you are eligible to receive FCRA funds.
No, you cannot OLD FC Account after opening a new FC Account but you can Use that old account as a utilization account. BUT My Suggestion / Advice is to that if possible open a utilization Account at your area in SBI Nearest Branch.
Yes, they can Block or freeze your FC bank account as per the instructions from the government. In this regard, the Government is going to give suitable directions to all scheduled banks in India.
No, Need to Visit New Delhi. To open the “FCRA Account” in the NDMB the applicant entity/NGO/association need not the visit the NDMB at Delhi. They may approach either the nearest SBI Branch or any other SBI Branch of their choice for the opening of their “FCRA Account”.
In this regard, a Standard Operating Procedure (SOP) to facilitate, opening and operating the “FCRA Account “in NDMB has been worked out which will be soon uploaded on this portal. www.fcraonline.nic.in
It is further clarified that the applicant person/NGO/association has complete liberty to retain its present “FCRA Account” as another “FCRA Account” in any branch of a scheduled bank of its choice. They can link this account with the designated “FCRA Account “opened at the NDMB.
The NDMB will not levy any transfer charges/fees for transferring the FC “FCRA Account” to “another FCRA Account” or another utilization account/account in a branch of any scheduled bank.
No, you can’t receive FC Amount in other bank Accounts. All the persons/NGOs/associations who already have been granted a certificate of registration or prior permission by the Central Government may take note that they shall not
receive any FC in any account other than the designated “FCRA Account” opened at NDMB of the SBI, 11, Sansad Marg, New Delhi-110001 from the date of opening of such account OR 1 April 2021, whichever is earlier.
NGOs/associations are also advised to frequently visit through the FCRA web portal at fcraonline.nic.in for further updates in this matter.