Part of: GS Prelims –Economy and GS-II- Money laundering
In news:
The Union government has granted Foreign Contribution Regulation Act (FCRA) licence this year to more than 20 non-governmental organisations (NGOs), including the A.R. Rahman Foundation
Any NGO or association that intends to receive foreign funds has to compulsorily register under the FCRA, monitored by the Union Home Ministry.
In 2014, the FCRA licences of more than 16,000 NGOs were cancelled
Under the FCRA Act, registered NGOs can receive foreign contribution for five purposes — social, educational, religious, economic and cultural.
Daily Current Affairs IAS | UPSC Prelims and Mains Exam – 21st February 2020
