Home Ministry asks NGOs to open Bank Accounts in Core Banking format

Posted on:11 May 2017 11:34:55
Home Ministry asks NGOs to open Bank Accounts in Core Banking format
11 May 2017 Current Affairs:

  • The Home Ministry has instructed around 5,845  Non - Governmental Organisations (NGOs) to open their accounts in banks having core banking facilities.

  • Registration of more than 10,000 NGOs have been cancelled and more than 1,300 have been denied a renewal over the last three years for various violations.

  • The Home Ministry mandated the NGOs registered under the Foreign Contribution Regulation Act to have their accounts in either nationalised banks or in a few private banks that have core banking facilities.


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