We received FCRA’s prior approval today. Could anyone share important things to consider in our activities?
The thing to remember for prior permission granted are:
- FC funds be used only for the specific purpose in the donor contract as submitted with FC 3B.
- If the FC grant amount is above Rs.1 cr, please see PP letter on instalments in which FC funds can be drawn. Subsequent instalments will be on proof of 75% utilization of previous instalment and specific permission after verification by MHA for receiving the next installment.
- Continue abiding by provisions in Rule 9 of FCR Rules for related party between the grantor and grantee applicable for PP.
- Reporting in FC4 i.e. Annual Return
- Using the FC funds from FCRA account or utilization account as the case maybe and no mixing of FC funds with local funds
Sharad
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Thanks for your valuable insights.