Foreign Fund  

The Supreme Court said that an association with avowed political objectives cannot be permitted to access foreign funds. Steps taken to curb NGOs from being used for channelling foreign funds by political parties SimplifiedBy MyNation.

While NGOs are sitting on piles of cash, more foreign funding is poured in. Why is there a need to pump in so much money, if there is no agenda?

The rupee traded lower by 5 paise at 70.93 against the US dollar in early trade. It had closed at 70.88 on Thursday on foreign fund inflows. Crude oil prices eased after a quick recovery in Saudi Arabia's production.

Forex traders said fall in global crude oil prices and fresh foreign fund inflows also enthused investors as the rupee rose 26 paise to 70.88 against the US dollar

Losses in the banking, auto, IT sector and continued foreign fund outflow caused the domestic equity benchmark BSE Sensex to drop over 150 points in early session on Monday

As per FCRA guidelines, registered associations are required to submit electronically an online annual report with scanned copies of income and expenditure statement, receipts and payment account, balance sheet, etc., for every financial year within nine months of the closure of the financial year.

Traders said the sudden fall is due to Brent crude oil breaching the $84 mark and the US currency strengthened overseas. Unabated foreign fund outflows also weighed on the local currency. 

Besides, weakness in the US dollar against some currencies, fresh foreign fund inflows supported the rupee
 

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