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Re: FCRA funds clarification

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(Querist)
30 December 2023 Dear Sir/ Madam,

We have received FCRA funds parked in the FD and taken the Overdraft facility against the FD. Below are my questions.
1. Is this allowed as per the FCRA Act?
2. Will the OD amount be considered domestic or FC funds? if it is a FC funds -
3. Can we re-pay the OD from domestic funds?

Thank You
Vijay
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
16 January 2024 This should help a bit https://www.mha.gov.in/PDF_Other/ForeigD-ForeigD-FCRA_FAQs.pdf
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vijay.v.kulkarni

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vijay.v.kulkarni (Querist)
29 January 2024 No sir it doesn't answer my question.
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