Asian Infrastructure Investment Bank, New Development Bank and European Bank for Reconstruction and Development not to be considered as Foreign Source under the Foreign Contribution (Regulation) Act, 2010, says Ministry of Home Affairs

Asian Infrastructure Investment Bank, New Development Bank and European Bank for Reconstruction and Development not to be considered as Foreign Source under the Foreign Contribution (Regulation) Act, 2010, says Ministry of Home Affairs

March 12, 2019 Banking, OPS, states 0

In a Notification dated 1st February 2019 the Ministry of Home Affairs has informed that the following international organisations shall not be treated as ‘foreign source’ for any of the purposes mentioned in the Foreign Contribution (Regulation) Act, 2010, namely:—

(i)            Asian Infrastructure Investment Bank (AIIB)

(ii)           New Development Bank (NDB)

(iii)          European Bank for Reconstruction and Development (EBRD)

Source: Ministry of Home Affairs

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