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The Foreign Contribution Regulation Act (FCRA) requires every person or NGO seeking to receive foreign donations to be
- Registered under the Act
- Open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi
- Utilise those funds only for the purpose for which they have been received and as stipulated in the Act.
How many of the above statements is/are correct?
- a)Only one
- b)Only two
- c)All three
- d)None
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
The Foreign Contribution Regulation Act (FCRA) requires every person o...
Statement 2 is incorrect.
FCRA was enacted during the Emergency in 1976 amid apprehensions that foreign powers were interfering in India’s affairs by pumping money into the country through independent organisations.
The law sought to regulate foreign donations to individuals and associations so that they functioned “in a manner consistent with the values of a sovereign democratic republic”.
Broadly, the FCRA requires every person or NGO seeking to receive foreign donations to be (i) registered under the Act, (ii) to open a bank account for the receipt of the foreign funds in State Bank of India, Delhi, and (iii) to utilise those funds only for the purpose for which they have been received and as stipulated in the Act.
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Community Answer
The Foreign Contribution Regulation Act (FCRA) requires every person o...
Explanation:
The Foreign Contribution Regulation Act (FCRA) is a legislation enacted by the Indian government to regulate the acceptance and utilization of foreign contributions and foreign hospitality by individuals and organizations in India. Let's analyze each statement mentioned in the question:
Statement 1: The FCRA requires every person or NGO seeking to receive foreign donations to be registered under the Act.
This statement is correct. The FCRA mandates that any person or NGO seeking to receive foreign donations must be registered under the Act. This registration ensures that the government can monitor and regulate the flow of foreign funds and prevent any misuse or illegal activities.
Statement 2: The FCRA requires every person or NGO seeking to receive foreign donations to open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi.
This statement is incorrect. While the FCRA requires the recipient to open a designated bank account for the receipt of foreign funds, it does not specify that the account should be opened in the Reserve Bank of India, Delhi. The account can be opened in any authorized bank in India.
Statement 3: The FCRA requires every person or NGO seeking to receive foreign donations to utilize those funds only for the purpose for which they have been received and as stipulated in the Act.
This statement is correct. The FCRA lays down strict guidelines regarding the utilization of foreign funds received by individuals or NGOs. The funds must be used only for the purpose for which they have been received, and any deviation from the stipulated purpose is a violation of the Act.
Conclusion:
Based on the analysis, it can be concluded that statement 1 and statement 3 are correct, while statement 2 is incorrect. Therefore, the correct answer is option 'B' - Only two statements are correct.
The Foreign Contribution Regulation Act (FCRA) is a legislation enacted by the Indian government to regulate the acceptance and utilization of foreign contributions and foreign hospitality by individuals and organizations in India. Let's analyze each statement mentioned in the question:
Statement 1: The FCRA requires every person or NGO seeking to receive foreign donations to be registered under the Act.
This statement is correct. The FCRA mandates that any person or NGO seeking to receive foreign donations must be registered under the Act. This registration ensures that the government can monitor and regulate the flow of foreign funds and prevent any misuse or illegal activities.
Statement 2: The FCRA requires every person or NGO seeking to receive foreign donations to open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi.
This statement is incorrect. While the FCRA requires the recipient to open a designated bank account for the receipt of foreign funds, it does not specify that the account should be opened in the Reserve Bank of India, Delhi. The account can be opened in any authorized bank in India.
Statement 3: The FCRA requires every person or NGO seeking to receive foreign donations to utilize those funds only for the purpose for which they have been received and as stipulated in the Act.
This statement is correct. The FCRA lays down strict guidelines regarding the utilization of foreign funds received by individuals or NGOs. The funds must be used only for the purpose for which they have been received, and any deviation from the stipulated purpose is a violation of the Act.
Conclusion:
Based on the analysis, it can be concluded that statement 1 and statement 3 are correct, while statement 2 is incorrect. Therefore, the correct answer is option 'B' - Only two statements are correct.
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The Foreign Contribution Regulation Act (FCRA) requires every person or NGO seeking to receive foreign donations to be Registered under the Act Open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi Utilise those funds only for the purpose for which they have been received and as stipulated in the Act.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
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The Foreign Contribution Regulation Act (FCRA) requires every person or NGO seeking to receive foreign donations to be Registered under the Act Open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi Utilise those funds only for the purpose for which they have been received and as stipulated in the Act.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The Foreign Contribution Regulation Act (FCRA) requires every person or NGO seeking to receive foreign donations to be Registered under the Act Open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi Utilise those funds only for the purpose for which they have been received and as stipulated in the Act.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Foreign Contribution Regulation Act (FCRA) requires every person or NGO seeking to receive foreign donations to be Registered under the Act Open a bank account for the receipt of the foreign funds in Reserve Bank of India, Delhi Utilise those funds only for the purpose for which they have been received and as stipulated in the Act.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
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