2 B FOREIGN CONTRIBUTION REGULATION ACT (FCRA), CDF, eFIRC
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What is the full form of FCRA in the context of foreign exchange regulation?
FCRA stands for the Foreign Contribution (Regulation) Act. It regulates the acceptance and utilisation of foreign contributions or foreign hospitality by persons in India.
Under FCRA, which specific bank branch must all foreign contributions be received into?
SBI New Delhi Main Branch, FCRA designated account only.
Which government authority administers the FCRA in India?
The Ministry of Home Affairs (MHA) administers the FCRA in India. It grants registration, processes applications, and enforces compliance.
What is the account number of the designated SBI FCRA account at New Delhi Main Branch?
Account number 00000010971234958.
What is the primary objective of the Foreign Contribution (Regulation) Act?
The primary objective of FCRA is to prevent the use of foreign contributions for activities detrimental to national interest. It ensures that foreign funds do not influence Indian politics, economy, or social fabric adversely.
What is the minimum threshold of foreign currency notes/TCs that triggers mandatory CDF filing?
Exceeding USD 5,000 or equivalent in foreign currency notes.
Who is required to register under FCRA to receive foreign contributions?
Persons, associations, and companies with a definite cultural, economic, educational, religious, or social programme are required to register under FCRA. NGOs and civil society organisations receiving foreign funds must mandatorily hold valid FCRA registration.
What is the overall foreign exchange limit (currency plus TCs) requiring CDF declaration on arrival?
Aggregate exceeding USD 10,000 or equivalent.
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