FCRA amendment allows Indians to receive up to INR ten lakh
Foreign Contribution Regulation Act (FCRA) has been amended by the Indian Union Home Ministry to allow relatives to send more money freely to India. As a result of the amendment, relatives can now send INR 10 lakh without informing the government. The individuals now have three months instead of 30 days to inform the government if the amount is exceeded.
Furthermore, the amended rule gives the organizations a longer period of time to inform the government about the opening of bank accounts that would be used for the utilization of funds received under the registration or prior permission categories. Organizations/individuals that receive foreign funds no longer need to disclose such contributions on their official websites every quarter.