Union Home Ministry has announced that Foreign funds received through prior permission are valid for only four years. Not using the funds...
Union Home Ministry has announced that Foreign funds received through prior permission are valid for only four years.
Not using the funds within this period is a violation of the Foreign Contribution (Regulation) Act, 2010.
Legal action can be taken for non-compliance.
For prior permission applications:
Funds can be received for up to three years from the approval date.
Funds must be fully used within four years from the approval date.
For already approved applications:
If the project has more than three years left, the four-year period starts from the date of this new order.
This rule ensures proper utilization of foreign funds within the specified time frame.
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