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LATEST NEWS UPDATES | Bank leash on NGOs

Bank leash on NGOs

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published Published on May 11, 2017   modified Modified on May 11, 2017
-The Telegraph

New Delhi: The Union home ministry has asked nearly 6,000 of the 13,000 registered NGOs in the country receiving foreign donations to open accounts in nationalised banks to facilitate constant surveillance of their activities.

The NGOs have accounts in cooperative banks or state-owned banks, which do not have core-banking facilities.

"To maintain surveillance on the activities of NGOs receiving foreign funds, the ministry wants all NGOs registered under the Foreign Contribution (regulation) Act to have accounts only in either nationalised banks or in a few private banks having core-banking facilities," a senior ministry official said.

Sources said under the core-banking system, all the branches of the networked banks are interconnected. This will allow security agencies to access the accounts of the NGOs in real time.

Please click here to read more.

The Telegraph, 11 May, 2017, https://www.telegraphindia.com/1170511/jsp/nation/story_150945.jsp#.WRPFiLideyA


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