Q9 · UPPSC current affairs · 28 September 2026 · News · Foreign Contribution Regulation Act and Proposed Amendments

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English हिंदी

Consider the following statements regarding the Foreign Contribution (Regulation) Act (FCRA):1.The statute is administered and regulated by the Ministry of Finance.2.Designated foreign contribution accounts are mandated to be opened in designated branches of the State Bank of India.Which of the statements given above is/are correct?

A 2 only

B Both 1 and 2

C Neither 1 nor 2

D 1 only

Correct answer: (a) 2 only

Explanation

Statement 1 is incorrect because the FCRA is administered by the Ministry of Home Affairs, not the Ministry of Finance. Statement 2 is correct as designated foreign contribution accounts must indeed be opened in designated SBI branches.

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