What are the important steps taken by the Home Ministry regarding NGOs and foreign funds
Home Ministry has asked NGOs to declare assets acquired from foreign funds.
The Home Ministry has taken several important steps regarding NGOs and foreign funds. Here are the key points:
- The Home Ministry has directed all NGOs to declare the assets they have acquired using foreign funds. This step aims to ensure transparency and accountability in the utilization of such funds.
- NGOs are required to submit their annual returns, including details of foreign contributions received and the purposes for which they have been utilized.
- The ministry has mandated that all NGOs receiving foreign funds must open designated bank accounts in any of the 32 authorized banks for the receipt and utilization of these funds.
- The ministry has also implemented the Foreign Contribution (Regulation) Amendment Act, 2020, which provides for stricter regulation and management of foreign funds received by NGOs.
- Stringent measures have been imposed to prevent the misuse of foreign funds and ensure that the funds are utilized for their intended purposes in a transparent manner.
- Regular audits and inspections of NGOs are conducted to enforce compliance with the regulations governing the receipt and utilization of foreign funds.
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