Transfer of FCRA funds from the utilization account to the FCRA main account
Socio Research & Reform Foundation
FCRA
Dear Dialogue Members
Greetings!
Following responses received on the topic “Transfer of FCRA funds from the utilization account to the FCRA main account”
Transfer of FCRA funds from the utilization account to the FCRA main account
Posted on February 8, 2025 by SRRF
Dear Sir/Madam,
I am writing here to get some clarity on FCRA funds.
One society is having 2 FCRA bank accounts one utilization account in PNB(This was the old receipt and utilization account) which is currently the deemed utilization account. After opening the FCRA SBI New Delhi Account, the society has not received any FCRA donations. The SBI account does not have any balance in it. Today the society received a email stating that the due to no transactions in the account it will be marked inoperative.
Can we transfer some funds from the PNB account to the SBI account which will be utilized at a later date for the societies activities only.
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Socio Research & Reform Foundation
Dear Dialogue Members
Greetings!
Following response received on the topic “Transfer of FCRA funds from the utilization account to the FCRA main account”
Subramania Siva says:
It is not possible to transfer from utilisation account to the Designated FCRA account in SBI, New Delhi. The New Delhi account is the one where FC from foreign sources only can land. To make that inoperative account operative, you may have to arrange some contribution from outside even a very small amount and withdraw...(click to read more)
Socio Research & Reform Foundation
Dear Dialogue Members
Greetings!
Following response received on the topic “Transfer of FCRA funds from the utilization account to the FCRA main account”
Subhash Mittal says:
Dear Noel, Issue raised by you is a very practical issue, and needs to be tackled proactively in coordination with SBI, as suggested by others. However, problem is that SBI probably has a computerised checks & balances, which make an account inoperative if no funds rec’d or withdrawn. You will need to discuss this with SBI officials, maybe they may....(click to read more)
Thomas Mathews says:
Could also inform/request SBI on letter head that no funds have been received and to keep account operative.
