SBI says NGOs can apply for opening FCRA a/c in New Delhi main branch from any SBI branch – Times of India
[ad_1]
NEW DELHI: The State Bank of India (SBI) has informed the home ministry that it sent three mails between December 2020 and March 2021 to almost 23,000 NGOs and associations, clarifying that their functionaries need not visit the national Capital to open the mandatory account at its New Delhi main branch (NDMB) to receive foreign funds, and could instead approach any SBI branch.
In a letter written to the joint secretary in FCRA wing of ministry of home affairs (MHA) on Wednesday (June 9), the SBI deputy general manager said the bank had clarified to the NGOs registered or granted prior permission under FCRA, that they could approach a SBI branch of their choice or one near to them for opening the dedicated FCRA account.
He said that a communication to this effect was shared on mail with almost 23,000 entities on December 22, 2020; February 22, 2021; and March 18, 2021.
The choice of submitting the documents for account opening at NDMB to any SBI branch is meant to minimise the hardships for applicant entities, particularly in view of the Covid-19 pandemic.
It is also in line with the standard operating procedure outlined by the home ministry in November 2020 for opening and operation of the FCRA account at SBI New Delhi branch.
“For opening of designated FCRA account, you need not visit NDMB. If you are an existing SBI customer, you may submit the enclosed account opening form along with required KYC document to your home branch which will be forwarded by your branch to NDMB,” the bank had stated in its letter to the NGOs.
It added that if the existing FCRA account of the NGO was in another bank, the nearest SBI branch or any SBI branch of one’s choice could be approached for opening of the designated FCRA account in NDMB, where the account opening form and other required documents including KYC documents would need to be submitted.
The home ministry had recently extended the date for NGOs to open the FCRA account in SBI New Delhi main branch to June 30, 2021, saying that no foreign funds could be received in any other account from July 1 onwards.
In a letter written to the joint secretary in FCRA wing of ministry of home affairs (MHA) on Wednesday (June 9), the SBI deputy general manager said the bank had clarified to the NGOs registered or granted prior permission under FCRA, that they could approach a SBI branch of their choice or one near to them for opening the dedicated FCRA account.
He said that a communication to this effect was shared on mail with almost 23,000 entities on December 22, 2020; February 22, 2021; and March 18, 2021.
The choice of submitting the documents for account opening at NDMB to any SBI branch is meant to minimise the hardships for applicant entities, particularly in view of the Covid-19 pandemic.
It is also in line with the standard operating procedure outlined by the home ministry in November 2020 for opening and operation of the FCRA account at SBI New Delhi branch.
“For opening of designated FCRA account, you need not visit NDMB. If you are an existing SBI customer, you may submit the enclosed account opening form along with required KYC document to your home branch which will be forwarded by your branch to NDMB,” the bank had stated in its letter to the NGOs.
It added that if the existing FCRA account of the NGO was in another bank, the nearest SBI branch or any SBI branch of one’s choice could be approached for opening of the designated FCRA account in NDMB, where the account opening form and other required documents including KYC documents would need to be submitted.
The home ministry had recently extended the date for NGOs to open the FCRA account in SBI New Delhi main branch to June 30, 2021, saying that no foreign funds could be received in any other account from July 1 onwards.
[ad_2]
Source link
