SBI Raises Concerns over Proposed FCRA Asset Rules, Says ‘Clarity Required’
4 Articles
4 Articles
SBI seeks clarity on handling of bank accounts, deposits under FCRA bill
State Bank of India officials are seeking clarity on handling accounts when an organization’s registration is suspended. They highlighted risks for smaller entities that may lose access to funds upon missing renewal deadlines. The JPC is examining the implications of the FCRA Amendment Bill, focusing on accountability and regulations for banking procedures.
FCRA Amendment Act; State Bank of India in JPC seeking clarification on what to do with money in accounts frozen by the governmentFCRA Bill | SBI Account
The State Bank of India has expressed concern about the changes being made to the Foreign Contribution Regulation Act (FCRA). The bank has sought clear guidance from the government regarding account freezing, fixed deposits, and old balance rules.
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