Home Ministry has directed all NGOs, business entities and individuals who receive funds from abroad to open accounts in any of the 32 designated banks, within a month for higher level of transparency.
The directive to the NGOs, companies and individuals to open foreign contribution accounts in banks, which are integrated with the central government’s Public Financial Management System (PFMS), came for providing a higher level of transparency and hassle -free reporting compliance, according to the ministry order.
According to the order dated December 21 by the MHA , the NGOs are directed to comply with the order within one month. Govt also tells them not to do anything detrimental to national interests.
