Recently a case came to light where an NGO who had an e-payment facility on its website was asked to shut down the same. When the matter was taken up with the Banker, it was stated that since the NGO was receiving frequent remittances through this facility, the banker was not comfortable if these payments were complying with FCRA provisions. Therefore to be on safer side they asked the NGO to provide all documentation to confirm if provisions of FCRA as well as Income Tax had been complied with. In the meantime they blocked receipt of funds through e-payment facility.
The above incident shows that NGOs face all kind of prejudices and are not being allowed to use the facilities which bankers have no problems giving it to their business customers.
Have you faced any similar or other problems while dealing with your bankers? Please let us know, if considered appropriate we may contact NGO representative organisations to have meetings with the bankers.
We thank CA Shri Deepak Bansal for bringing this information to the editorial team’s attention.
______________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place,
New Delhi – 110008
e-mail: socio-research@sma.net.in