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SBI Seeks Banking Rules as Parliament Examines FCRA Amendments
A new bill would change how organisations receiving foreign donations are managed when their permission ends.
The State Bank of India supports the goal but wants banks to receive clear instructions.
It asked what should happen to accounts, deposits, interest and incoming payments.
It also wants banks protected for transactions completed before receiving official notice.
The Law Ministry said a government-appointed authority could temporarily control the money and property.
Organisations would have to hand over records, keys, securities and other assets.
The money could remain under government control permanently if registration is not restored within a set period.
Critics say the rules could hurt Christian and minority-run organisations.
The government says the bill is meant to improve transparency and prevent misuse of foreign funds.
The State Bank of India supported the proposed FCRA amendments but sought clear rules for handling accounts when NGO registrations end.
SBI warned of uncertainty between registration expiry and banks receiving official notice, seeking protection for transactions processed before notification.
The Law Ministry said affected organisations must give a designated authority access to records, accounts, properties, securities, lockers and movable assets.
SBI reported 25,432 covered accounts at its New Delhi Main Branch, including 10,992 restricted accounts holding ₹165.33 crore.
Opposition parties and Christian groups said the bill could harm minority organisations, while the government said it regulates foreign funding without discrimination.
- Who
- The State Bank of India, the Law Ministry, the Ministry of Home Affairs, the Joint Parliamentary Committee, opposition parties and affected NGOs.
- What
- The Joint Parliamentary Committee examined proposed amendments to the Foreign Contribution (Regulation) Act, while SBI sought detailed banking rules for accounts of organisations whose registrations end.
- Where
- The matter was considered by the Joint Parliamentary Committee in New Delhi, including at SBI’s New Delhi Main Branch for the cited account data.
- When
- The presentations took place on Tuesday; the bill was introduced on March 25 and referred to the committee on August 12.
- Why
- The government says the amendments would improve transparency and ensure proper use of foreign contributions, while critics say they could restrict legitimate minority and charitable activities.
Critics and Opposition
Government and Supporters
Impact on minority organisations
Critics and Opposition
Opposition parties and Christian groups allege that the bill could choke legitimate funding for Christian NGOs and minority-run social welfare and educational institutions.
Government and Supporters
The government rejects the allegation, says the bill is not religion-specific, and argues that it regulates foreign contributions generally.
Purpose of the amendments
Critics and Opposition
Critics describe provisions of the bill as objectionable and potentially dangerous for organisations and institutions receiving foreign funding.
Government and Supporters
The government says the amendments are intended to increase transparency, ensure proper utilisation of overseas funds and address misuse, including funding linked to forced religious conversion or personal gain.
Stakeholder consultation
Critics and Opposition
DMK MP P Wilson said stakeholders should be allowed to submit objections, not merely suggestions, and that seven days was insufficient.
Government and Supporters
The committee invited public views and suggestions on specific clauses, while continuing its clause-by-clause examination before preparing a report.
Key facts
- Bill
- Foreign Contribution (Regulation) Amendment Bill, 2026
- SBI accounts
- 25,432 accounts for organisations covered by the foreign funding law at the New Delhi Main Branch as of August 31
- Restricted accounts
- 10,992 accounts were dormant, frozen, suspended or otherwise restricted
- Restricted-account balance
- ₹165.33 crore combined balance
- Proposed asset control
- Foreign contributions and assets purchased with them could temporarily pass to a government-designated authority
- Committee
- A 31-member Joint Parliamentary Committee chaired by BJP MP Sanjay Jaiswal
- Public feedback
- DMK MP P Wilson said seven days was too short and requested at least four weeks
Quotes
P Wilson
DMK Rajya Sabha member and member of the Joint Parliamentary Committee
“Objections, and not merely suggestions, should be invited … the press communique invites only ‘views/suggestions’ on the specific clauses of the Bill.”
theprint.in
CNBC TV 18
Sources
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