Report
SBI seeks clarity on handling accounts and deposits under FCRA bill
The Economic Times reports that State Bank of India officials want guidance on handling accounts when an organization’s registration is suspended. They raised concerns that smaller entities may lose access to funds if they miss renewal deadlines.
TLDR
The Economic Times reports that SBI officials are seeking clarity on how to handle bank accounts and deposits under the FCRA Amendment Bill, including when an organization’s registration is suspended. They highlighted the risk that smaller entities may lose access to funds if they miss renewal deadlines. A parliamentary committee is examining the bill’s implications for banking procedures and accountability.
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