Which type of bank account to be opened for FCRA purpose.

6 Responses to Which type of bank account to be opened for FCRA purpose.

1. G K bhatnagar says:

   December 26, 2016 at 9:13 am

   For FCRA registration application on line form can we give details of existing SB Bank account ( open for the NGO) in column FC bank account
2. G K bhatnagar says:

   December 26, 2016 at 9:10 am

   For registration under FCRA application can we give detail of existing details of Bank account where FC – Bank account is required in the online application form.
3. JAGDEEP KAKKAR says:

   December 20, 2016 at 12:21 pm

   Dear Members,

   There should not be any problem in opening Savings Bank Account and really do not understand why banks should refuse to open SB Account. I think we should ask the bank to give in writing why they can’t open SB Account. I have recently opened Savings Bank accounts for our Units and there was no problem at all.

   Thanks and Regards

   Jagdeep Kakkar
4. S.S.Shiva says:

   December 19, 2016 at 5:11 pm

   I also endorse Soma Sastry’s view. Banks want NGOs to open current account only, especially for FCRA purpose.
5. Neeraj Kumar Sinha says:

   December 19, 2016 at 7:25 am

   Dear Anil ji,
   you are free to open any type of account for FCRA purpose (saving/current), in saving account you will earn interest where you will not earn any interest in current account.

   In my opinion, current account is best for FCRA purpose.

   Regards
6. B V Soma Sastry says:

   December 19, 2016 at 7:17 am

   Dear Mr. Anil,

   Savings bank account can be opened provided the bank allows the opening of such account for an organization. In the past saving accounts were allowed but off late some of the banks have been sending letters to the NGOs requesting the conversion of saving account into current account. In such a scenario it may not be possible to open a savings account.

   Thanks and regards,

   B V Soma Sastry

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