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MHA directions to NGOs -PMFS
December 27 , 2017
2556 days
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- The Union Ministry of Home Affairs (MHA) has all NGOs, individuals and business entities receiving foreign funds to open accounts in any of 32 designated banks, including one foreign, within a month.
- These accounts opened in 32 designated banks will be integrated with central government’s Public Financial Management System (PFMS).
- Its purpose is to provide higher level of transparency and hassle-free reporting compliance.
- The MHA order comes in exercise of the powers conferred under Foreign Contribution (Regulation) Act (FCRA), 2010.
- The FCRA 2010 provides for regulation of acceptance of foreign funds/foreign hospitality by certain individuals, associations, organisations and companies.
- PFMS functions under the Controller General of Accounts in the Ministry of Finance.
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