What changed
The Ministry of Home Affairs made online submission of foreign contribution receipt reports mandatory for all banks, including UCBs, effective November 1, 2013. Until October 31, 2013, online reporting was optional. Banks must now use MHA's software and follow specified data formats.
What it means for you
UCBs must ensure compliance with Rule 16 of the Foreign Contribution (Regulation) Rule, 2011 by switching to online reporting. This streamlines data submission to the Central Government but requires immediate IT readiness and user registration. Non-compliance from November 1 could attract regulatory action.
What you must do
- Create user ID and password on MHA's online reporting system immediately.
- Prepare foreign contribution data in Excel, CSV, or txt formats as per the user guide.
- Submit reports online from November 1, 2013, without fail.
- Contact MHA at [email protected] for clarifications or NIC's Shri C.L. Sharma for technical issues.
Who it affects
All Primary (Urban) Co-operative Banks, Bank compliance and IT departments, Branches handling foreign contribution receipts
What is the deadline for mandatory online reporting?
Online submission becomes compulsory from November 1, 2013. Until October 31, 2013, it remains optional.
What data formats are accepted for online reports?
MHA accepts data in Excel, CSV, or txt formats. Detailed instructions are in the user guide available at the provided MHA link.
Who should we contact for technical issues with the online application?
For technical problems, email Shri C.L. Sharma, Technical Director (NIC), at [email protected]. For other clarifications, contact MHA at [email protected].