Union Minister Rajnath Singh Launches Online Analytical Tool For Monitoring Foreign Contributions to FCRA Registered Companies

New Delhi, June 1: Union home minister Rajnath Singh on Friday launched an online analytical tool to monitor the flow and utilisation of foreign contributions received by non-governmental organisations registered or permitted under the Foreign Contribution Regulation Act (FCRA), 2010. The web tool will enable transparency in the fund inflow of the companies.

Rajnath Singh while launching the tool said, “The tool enables decision-makers in various government departments/Ministries to scrutinise the sources of foreign funds and their actual use in India. It gives them the capacity to take data-driven and evidence-based decisions regarding compliance with the Foreign Contribution Regulation Act, 2010.” According to a home ministry statement, The tool conducts big data mining and data exploration,

The dashboard of the tool will be integrated with the bank accounts of FCRA-registered entities. It will be done through the Public Financial Management System for updating transactional data on a real-time basis. As per the data provided by the home ministry, there are approximately 25,000 active organisations registered under FCRA, 2010. A total of Rs 18,065 crore were received as foreign contributions by such organisations. These contributions by foreign donors were received for various social, cultural, economic, educational and religious activities during the financial year 2016-17.

Multiple financial transactions are conducted by each FCRA registered non-governmental organisations in receiving and spending the foreign contributions. These transactions can be monitored closely by the government through this tool. Union Home Secretary Rajiv Gauba, Intelligence Bureau Director Rajiv Jain, National Information Centre Director General Neeta Verma and officials of the Ministry of Home Affairs were present at the event.

(The above story first appeared on LatestLY on Jun 01, 2018 11:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).