Courtesy: FMSF India
FCRA Bank Account
There is a need to open designated Bank Account in the designated branch of State Bank of India (SBI) till 31st March, 2021.
However, if such account is not opened till such date, NPOs can still use FC funds lying in their existing designated FC account and utilization bank accounts after 31st March till the time the FCRA registration of the NPO remains valid.
If the designated SBI Account is not opened till 31st March, 2021 the NPO would not be able to accept any fresh FC funds in its existing FCRA designated bank account after 31st March, 2021.