Can NGOs use the foreign contributions for investment in Mutual Funds and other speculative investments?
A.29. No. The foreign contributions received after prior permission/grant of registration under the Act are to utilise for the purpose for which they have been received and they are not to be invested in any speculative investments. Further, it is clarified that foreign contributions can be received through a single Bank Account designated for the purpose under the order for registration/prior permission or changed thereafter with prior approval of the Government.
