Migration of FCRA Bank Account with PFMS Compliant Bank by 21st January 2018‎

FCRA Department vide its circular dated 21/12/2017 has made it mandated all ‎individuals / organizations who receive contribution under the FCRA, 2010 to ‎migrating their designated FCRA Bank Account with the PFMS (Public Financial ‎Management System) compliant bank, as per list given below, by 21st January 2018. ‎(click for circular)

List of PFMS compliant bank given below: ‎
‎1.‎ Abu Dhabi Commercial Bank ‎
‎2.‎ Allahabad Bank, ‎
‎3.‎ Allahabad UP Gramin Bank ‎
‎4.‎ Andhra Bank ‎
‎5.‎ Axis Bank ‎
‎6.‎ Bank of Baroda ‎
‎7.‎ Bank of Maharashtra ‎
‎8.‎ Bombay Mercantile Co-operative Bank Ltd. ‎
‎9.‎ Canara Bank ‎
‎10.‎ Catholic Syrian Bank Ltd. ‎
‎11.‎ Central Bank of India ‎
‎12.‎ City Union Bank ‎
‎13.‎ Corporation Bank ‎
‎14.‎ Cosmos Co-Operative Bank ‎
‎15.‎ DCB Bank Ltd. ‎
‎16.‎ Dena Bank ‎
‎17.‎ HDFC Bank ‎
‎18.‎ ICICI Bank ‎
‎19.‎ IDBI Bank ‎
‎20.‎ IndusInd bank linited ‎
‎21.‎ Jammu and Kashmir Bank Ltd. ‎
‎22.‎ Karur Vysya bank ‎
‎23.‎ Manipur state Co-op Bank ‎
‎24.‎ Oriental Bank of commerce ‎
‎25.‎ Punjab National Bank ‎
‎26.‎ South Indian Bank ‎
‎27.‎ State Bank of india ‎
‎28.‎ Syndicate Bank ‎
‎29.‎ Tamilnad Mercantile Bank Ltd. ‎
‎30.‎ UCO Bank ‎
‎31.‎ Vijaya Bank ‎
‎32.‎ Yes Bank ‎

All FCRA-holders / prior-permission holders must now keep their FCRA bank accounts ‎with one of these. They have been given time till 21st Jan 2018 to migrate their ‎designated FCRA Bank Account with any of the above. They should thereafter file ‎form FC-6 with details of the new bank account. ‎
‎__________________________________‎
Socio Research & Reform Foundation (NGO)‎
‎512 A, Deepshikha, 8 Rajendra Place, ‎
New Delhi – 110008‎

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31 Responses to Migration of FCRA Bank Account with PFMS Compliant Bank by 21st January 2018‎

  1. Ameet Miittal says:

    Dear All
    Please visit the following link to check status of PFMS compliance of your bank”
    https://pfms.nic.in/Static/BankBranchList.aspx

  2. nageswari says:

    please confirmed about Indian bank with pfms

  3. Prakash says:

    Our FCRA account is with Indian Overseas bank. Till the bank is not enlisted with PFMS. We have utilized all fcra money in the account, can we change this account as local and can change an exist SB account in Canara bank to FCRA account with concurrence of bank .

  4. Subhash Mittal says:

    From various inputs rec’d so far, it appears following banks have been added to the list
    of PFMS compliant banks.
    Kotak Mahindra
    Standard Chartered Bank
    Union Bank &
    Indian Overseas Bank.

    Let us hope more will be added soon…..

  5. Usha says:

    On the 8th both the Indian Bank and Indian Overseas Bank have been added the list of Banks which have complied with the PFMS. Please get a copy of the circular from your bank for your files.

  6. Bhooma Ssarathy says:

    Our bank union bank of india has now been included. Bank has received communication from ministry of home affairs that ‎they can operate FCRA accounts and NGOs need not migrate from UBI. Check with your bankers. See attachment.‎

    Click for reference letter

    BHOOMA

  7. B V Soma Sastry says:

    Dear Friends,

    Please do not rush into opening new bank accounts without clarifying with the existing banks on the PFMS compliance. I have been reading the queries of some of you and have the following to say:
    1. Contact you bank and get the clarification on the PFMS compliance
    2. The existing list is not exhaustive. New names will definitely be added to the list. Kotak is not there on the list but it is PFMS compliant. There are many such banks
    3. In case your bank is not compliant, the respective NGOs will have to open new bank account and inform the FCRA in form FC-6. The old account should be closed so that no FC funds gets credited to the account, even if by mistake.

    Thanks and regards,

    B V Soma Sastry

  8. Kumkum Srivastava says:

    Our FCRA Bank account was in SBBJ which was merged with State Bank of India last year in October 2017.
    Should we intimate FCRA

  9. Tom says:

    IOB has been included in the list of PFMS compliant banks. We have a copy of the acceptance from MHA to IOB.

    • Tom says:

      There was a mail from VANI wherein the trail mail says that Kotak Bank, Standard Chartered Bank and The Federal Bank are included, no intimation from MHA so far on their site. We have a scanned copy of MHA letter to IOB.

      • Tom says:

        Bank of India having a major presence in Jharkhand rural areas should be included and anyway of knowing whether they have managed to get into the list of complaint banks??

  10. Sadhana Aree says:

    I have a query I have an FC account in Union bank of India, but it is not in list. Whereas this bank already integrated their system with the PFMS. Please reply to me as early as possible, because there is no time. If it is mandatory then we have to change our account before 21.1.18.

    Is there any possibility that this bank will be in list

    • Subhash Mittal says:

      Well circular is very clear that it is mandatory, though efforts are underway to extend the deadline date. In the meantime you should be asking your Banker Union Bank to get a letter from FCRA Dep to confirm that Union Bank has been included in the compliant bankers list.

    • Ravi dutt Sharma says:

      Dear Ma’am ,

      Greetings for the day !!

      I am Ravi dutt Sharma from DCB Bank Connaught place branch.
      Plz gives us your contact numer & trust address so that we can meet with you & can open your trust account formalities.

  11. Sambhu Nath De says:

    Will there be any more addition to the list of banks ?

    • Subhash Mittal says:

      Different banks are making efforts to include their banks into PFMS compliant bank lists, but uncertainty remains on the banks which have been included. Kotak Bank & Std Chartered Bank have claimed to their customers that they are included in this list, but FCRA Dept website still does not include their names as yet.

      No option except lobby with your Bankers and keep yourself ready for last minute rush, if the FCRA Dept does not add bankers or does not extend date.

  12. C Udayashankar says:

    Season’s Greetings and Happy New Year!
    Prompt and timely advice.
    Thanks
    Udayashankar

  13. Ashok Pawar says:

    we have already a FCRA account in Indian Overseas Bank of our NGO, but after the circular on dated 21 Dec 2017 is it mandatory to open new fresh account for fcra donation purpose ? what about old our fcra account ?

  14. Kumar says:

    I am surprised to see that Kotak Mahindra Bank is not there in the list.

  15. Raam Kumar says:

    You are right Mittal sahib. When we filled FC-6, the information remained as draft and after a week we received an email from the MHA that our application for change in bank account has been approved. This is contrary to the current Rule that states, intimation is enough. bankers could refuse to accept a draft form which does not clearly specify “Approved” or accepted.

    • Subhash Mittal says:

      Problem is also when someone updates Trustees, our experience for months and at times even more than a year information by Dept is not updated about Trustees. But in such cases, please ensure keep evidence of filing of your FC6 handy.
      Not 100% sure, but grapevine has that Dept may not approve changes in trustees, before a formal inspection by IB to trustees premises.

  16. Subhash Mittal says:

    I would like to clarify that the notice issued by FC Dept states S.17 of the FCRA Act. It may be noted that S. 17 covers both Designated as well as Utilisation Account (proviso to S.17). Hence one needs to move both designated as well as utilisation accounts to banks listed in the circular dt 21 Dec 2017. Once new bank accounts are opened, intimation has to be given to FCRA Dept.

    Although Dept claims based on Rules that this will be intimation, however our experience is that even after filing FC6 for this intimation, data so filed is not updated on FCRA website for long periods. Let us hope this time it will be different, otherwise working of foreign funded projects, which is already suffering will receive further setback.

  17. Raju Kurian says:

    Thank you very much.

    Raju Kurian
    Mar Gregorios Charitable Society
    Ernakulam

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