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  Home Min finalises changes to Foreign Contribution Bill  
 

March 10th 2010

The Home Ministry has finalised changes to Foreign Contribution (Reg) Bill.  It has suggested changes on increased security concerns.

Now, there will be an Rs 10 lakh ceiling for reporting of foreign remittances by banks.

Government nod will be needed before non-governmental organisations (NGOs) transfer foreign contributions. Transfer to smaller NGOs will also be subject to some conditions.

 

 

The Ministry has aligned punishment with the Indian Penal Code (IPC) for false declaration of accounts. It has also sought a five years debarment period from foreign contribution from the current three years.

 
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