SBI asks for clearer rules on handling NGO funds post-FCRA cancellation
- SBI backed the FCRA Bill on September 29 but requested clear banking guidelines for affected accounts.
- SBI asked whether affected accounts should be frozen, who operates them, and if incoming payments continue.
- The proposed Bill transfers control of foreign-funded assets to the government after FCRA registration ends.
- SBI warned that communication delays on cancelled registrations could expose processed bank transactions to legal dispute.
Source: hindustantimes.com
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