FCRA Account Status

This is further to our email dated 25th January 2021 regarding the amendments to FCRA Act 2010 issued by the Ministry of Home Affairs (MHA).

• As per the FCRA Charter for Banks, “each NGO/association has to open its exclusive FCRA account in the SBI, Main Branch, Sansad Marg, New Delhi by March 31, 2021. If it is not done by that time, then no foreign contribution shall be credited by any bank branch in the account of such NGO/association w.e.f April 01, 2021.”

• In absence of any intimation from you regarding opening of account with SBI New Delhi Main Branch (NDMB) and consequent treatment of existing FCRA account maintained with HDFC Bank, the status of the FCRA account with us has been changed and no new foreign contribution from a foreign source, through any means / channel viz. inward remittance, cash, cheque, PG/POS etc., will be permitted with effect from April 1, 2021, as stipulated by the MHA guidelines.

Therefore, any transactions received by the Bank for credit to your FCRA account will be rejected and returned to the sender without any intimation.

Debits in the account will be permitted for utilisation of residual funds if any, provided that MHA approval is valid.

• The “No Credit” status in the FCRA account will be removed on submission of necessary documents to the Bank regarding the treatment of the account as “Another FCRA Account” or “FCRA Utilisation Account”.

Should you have any queries on the above, please do call your Branch or Relationship Manager.

Assuring you of our best services,

Yours sincerely

Sunali Rohra
Executive Vice President
Government & Institutional Business