Parliament gave its nod to the Foreign Contribution (Regulation) Amendment Bill, 2020 with Lok Sabha passing it with voice vote today. In his reply after the discussion on the bill, Union Minister of State for Home Ministry, Nityanand Rai said that the bil l ensures that foreign funds are not utilized to tamper the social fabric or disturb the internal security in the country. He said, the legislation will bring transparency in the transaction
of foreign contributions and their usage. The Bill seeks to amend the Foreign Contribution (Regulation) Act, 2010 which regulates the acceptance and utilisation of foreign contribution by individuals, associations, NGOs and companies in the country. The bill adds public servants among the list of entities prohibited to accept any foreign contribution which already includes election candidates, editor or publisher of a newspaper, judges, government servants, members of any legislature, and political parties, among others. The bill prohibits transfer of foreign contribution received by any entity in the country to any other person, association, or company. Aadhaar number of office bearers, directors or key functionaries of the entity receiving foreign contributions has been made mandatory as per the bill. Under the provisions of the bill, entities can receive foreign contributions in their FCRA account opened at the designated branch of
State Bank of India in New Delhi. The bill also empowers the government to restrict usage of the unutilised foreign contribution fund in cas e of contraventions to the provisions of the bill.

You May Also Like :- GSTR-2B : Features and Advisory

Install Official APP : Click Here to Install

You can also submit article by sending to