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Process to open #FCRA Bank in SBI New Delhi Main Branch - YouTube
Channel: KCJM NGO
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Hello and welcome to my youtube channle KCJMNGO
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Good morning Friends
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Today we will talk about FCRA Main Account
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to be opened at SBI New Delhi Main Branch
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Let me tell you about how you approach SBI
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and open FC Bank Account in Delhi without going to Delhi
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in New Delhi Main Branch located near Sansad Bhavan Marg
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Please watch full video and understand the whole process
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Yesterday, a letter issued by SBI Main Branch
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in which the whole procedure is mentioned
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let me tell you the background first
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as per FCRA Amendment 2020
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now every FC registered organisation
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or for renewal of FC
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or organisation having FC prior approval
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has to open FCRA Gateway Account in SBI Delhi Branch
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What is gateway account
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Means whatever FC funding received out of India
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will first credited to that FCRA gateway account
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from there you can transfer it
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your existing FC Main or utilisation account in any other bank
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This rule came in force in September 2020
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thereafter lots of confusions were created
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whether to visit Delhi ?
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whether each Board Member has to visit?
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all such confusions are get cleared
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when MHA FCRA has issued notification
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on 7.10.2020
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where it is clearly mentioned
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that no one has to visit SBI Delhi branch
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and SBI will prepare a process
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and on FCRA Division in SBI Main Branch Dlehi
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and from there instructions will send to each SBI Branch
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and you can go and submit documents in nearby SBI branch of your area
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now lets discuss the process step by step
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Here in this letter clearly mentioned about the FCRA amendment and notification
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this is the letter issued by sbi
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where it is clearly mentioned
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that on-boarding process or SOP
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will be published shorty on SBI website
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and on MHA website also
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Help Line Numbers and contact email of this branch is also mentioned here
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you can call there and ask for help
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also you can request your nearest branch
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manager to ask for any help from FCRA division in Delhi SBI Branch
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Step - 1
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First of All
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KNOW YOUR BANKER
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Like KYC, you should know your Banker
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here, you have to go to nearby SBI Branch
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to complete your KYC procedure and submit your documents
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these documents then uploaded to bank portal
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or send to Delhi by branch and your account will be open
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Friends, if you are in the rural area
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where there is no SBI Branch or very small branch
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check whether such rural branch is capable or not
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also, we have to understand that
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this is first time for us and for Bankers also
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that documents verified by one branch and account open in another branch
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Many have questions that
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SBI people don't know about FCRA
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They may not be knowing anything about FCRA
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many branch do not know about FCRA
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we have to cooperate them also
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we can't assume that they know everything
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Banking is a vast and complicated system
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whereas number of FC registered NGO is very small 15 to 20K
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SBI has more branches than this in India
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thus, we have to cooperate them
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you have to select such branch
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either big branch or branch where you have some relations
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or it may be your existing banker or
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existing banker of some other peer organisation
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you should go there
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if you have some rapport with them
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it will be easy for you
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Step - 2
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after identifying the Branch
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visit them
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take a print of documents with you
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you can download it from the link given in the comment
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First, FCRA Amendment 2020
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Highlight sec17 in which there is mention of SBI
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Second document is
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Notification published by MHA on 7 Oct
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wherein they have specified SBI New Delhi Main Branch
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download and print this second doucment
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third, the letter issued by SBI
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where clear instructions are given in it
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a specimen of Account Opening Form is there in it
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also the procedure and documents are mentioned
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print all these documents
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meet the Branch Manager
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and explain him the whole scenario
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you have to tell them
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about FCRA Act
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he may not be knowing about it
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generally they get confused it with
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foreign exchange transcatons
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we are not dealing with FEMA
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so please tell them that
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FEMA and FCRA are not related
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it is charitable donations received from foreign country
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so explain him about it
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give copy of these document to him for reading
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give him time and again go there after some days
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also get Account Opening Form from that branch
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and required document list
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so that you can keep documents ready
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Step - 3
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List of documents required for KYC
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mentioned in the said letter
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1) Registration certificate
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in my opinion
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if you have certificate in vernacular language
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then get it certified translation in english by notary
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and not only for bank account opening
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it will be useful in future also
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2) Trust Deed or society deed
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3) PAN card of the trust
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4) AADHAR and PAN of board members
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here it is not specified
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whether it is for only signatories of all the board members
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get the clarification from the branch
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or will be clarified in SOP
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5) Board Resolution
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Format you can see here
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or you can download it from google
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You have to give this resolution
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which will be passed in your Board
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specifying authorised signatories
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for operating this account
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6) copy of 12A certificate
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arrange all these documents
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so, first meet the banker
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make rapport with them
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arrange all the documents
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also transfer the knowledge about FCRA
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now you are ready to open the account
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next submit all these documents to the branch
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most probably SOP will come in next week
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SOP / Procedure in bank portal is still pending
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so your submitted documents can not be processed till SOP will come
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or wait till SOP come and then submit documents
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Last date to open such account is 31-3-2021
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need to complete this process by then
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Lets talk about some FAQs
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asked in my blog or youtube channel
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the first question is
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whether Net Banking will allow in the SBI Account
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Frankly I do not know SBI specific rule about it
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in many cases, SBI has not allowed net banking in FCRA account
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but in particular account, because it is in Delhi
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may be it will allow net banking
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If they allow, take this facility of Net Banking
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either Viewing Rights
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if operating rights given, well and good
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Second question generally asked
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is it mandatory that one of the signatory must be chief functionary?
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there is no clarification in this regard
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lets wait for clarification in this regard
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however it is advisable to have CF as signatory
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but it is not mandatory in any rule
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it is good to ask bank only about signatories
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KYC of all members?
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all have to visit branch?
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I don't think so every board member has to visit
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but yes, authorised signatories have to visit branch
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with all the original ID and Address Proof
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to complete KYC
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another question is linking of bank accounts?
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with the existing FC Bank Account
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Don't know yet about this
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but if possible then link it with your existing FC Bank
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It means an auto instruction given
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to transfer immediately all the funds received
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in SBI FC Bank to your existing FC Bank
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do not know whether it is possible or not
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if they give you, subscribe for such service
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so that you can get your funds in your existing bank from SBI Bank
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if such service not given,
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same traditional method - write a cheque
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deposit in your existing bank
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if you have any other question, write in a comment
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i will update you further updates in this regard
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Like, Share and Subscribe my channel
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share this video in your network
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even grass-root organisation can get all this info
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and complete this procedure correctly without any mistake
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Thank you so much and keep watching
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