Bookmark Bookmark

PARLIAMENT PASSES FOREIGN CONTRIBUTION (REGULATION) AMENDMENT BILL

PARLIAMENT PASSES FOREIGN CONTRIBUTION (REGULATION) AMENDMENT BILL

Context

Parliament has passed the Foreign Contribution (Regulation) Amendment Bill, 2020.

Details

  • The bill amends the Foreign Contribution (Regulation) Act, 2010 which regulates the acceptance and utilization of foreign contribution by individuals, associations and companies.
  • Foreign contribution is the donation or transfer of any currency, security or article by a foreign source.
  • As per the bill, the public servants will be prohibited to accept any foreign contribution.
  • Under the Act, certain persons are prohibited to accept any foreign contribution.  These include: election candidates, editor or publisher of a newspaper, judges, government servants, members of any legislature, and political parties, among others.
  • It provides that any person seeking prior permission, registration or renewal of registration must provide the Aadhaar number of all its office bearers, directors or key functionaries as an identification document.
  • Under the Act, a person who receives foreign contribution must use it only for the purpose for which the contribution is received.  Further, they must not use more than 50% of the contribution for meeting administrative expenses.  The Bill reduces this limit to 20%.
  • It states that foreign contributions must be received only in an account designated by the bank as an FCRA account as notified by the Central Government.

You might be interested:

GOVERNMENT HAS LAUNCHED YUWAAH

GOVERNMENT HAS LAUNCHED YUWAAH Context Recently, the Government has launched YuWaah – a multi-stakeholder platform to make young people career ready. Details The Ministry of Youth Affairs & ...

4 weeks ago

EXPLAINED : INTERNATIONAL RED PANDA DAY 2020

EXPLAINED : INTERNATIONAL RED PANDA DAY 2020 Context International Red Panda Day, celebrated third Saturday of September every year, i.e 19th September 2020. Details It aims to raise public awarene ...

4 weeks ago

PM MODI AWARDED IG NOBEL PRIZE 2020 FOR MEDICAL EDUCATION

PM MODI AWARDED IG NOBEL PRIZE 2020 FOR MEDICAL EDUCATION Context Prime Minister Narendra Modi has been awarded the Ig Nobel Prize 2020 for Medical Education. Details The Prime Minister received th ...

4 weeks ago

DRDO CONDUCTS SUCCESSFUL FLIGHT TEST OF ABHYAS

DRDO CONDUCTS SUCCESSFUL FLIGHT TEST OF ABHYAS Context Recently, the Defence Research and Development Organisation (DRDO) conducted successful flight-tests of the indigenously-designed Abhyas High-spe ...

4 weeks ago

One Liners of the Day, 23 September 2020

Important Day Theme of International Day of Sign Languages (23 September) for the year 2020 - “Sign Languages are for Everyone!”. Theme of International Week of Deaf 2020 (21-27 September ...

a month ago

Daily News Digest:22 September 2020

PARLIAMENT PASSES ESSENTIAL COMMODITIES AMENDMENT BILLParliament passed a Bill to remove cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities. As per ...

a month ago

Provide your feedback on this article: