Following query received from John Dalton on the topic of “Return of donor money”. Kindly provide your responses.
I am a member of this group and I have a question raised by a friend in UK who works for a small donor agency.
If a foreign donor has sent excess funds (in this instance Rs 20 Lakhs) to an organisation in India what are the procedures to send the excess funds back. Presumably it can be reported as spent in FC6 but what are the bank regulations with regard to foreign currency?
Thanks and best wishes,