NB.DoS.HO.POL. / 4100 /J-1/2017-18
Circular No.20 /DoS-02 /2018
31 January 2018
The Chairman, All Regional Rural Banks
The Managing Directors / Chief Executive Officers of
All the State Cooperative Banks /
District Central Cooperative Banks
Dear Sir / Madam
Integration with Public Financial Management System (PFMS)
1. You are aware that in terms of Rule 16 of the Foreign Contribution (Regulation) Rules, 2011, banks are to report to the Central Govt within 48 hours of any transactions in respect of receipt or utilisation of any Foreign Contribution by any person whether or not such person is registered or granted prior permission under the Foreign Contribution (Regulation) Act,2010 (FCRA,2010). The banks are mandated to furnish the requisite information to GoI through Public Financial Management System (PFMS).
2. The Ministry of Home Affairs, GoI has, vide DO letter No. II/21022/58(119)/ 2015-FCRA(MU) dated 13 December 2017 observed that some of the Co-operative banks and Regional Rural Banks are yet to be integrated with PFMS in spite of repeated advices issued by the Ministry.
3. You may, ensure that the bank is strictly complying with the GoI instructions in this regard and the prescribed returns are submitted within the timeline stipulated. You may please advise the status of integration of your bank with PFMS by 15 February 2018 to our Regional Office.
4. Please acknowledge the receipt to our Regional Office.
(K Venkateswara Rao)
Chief General Manager