The Home Ministry has cancelled the registration of Bengaluru-based NGO Infosys Foundation for alleged violation of norms in receiving foreign grants. All non-government organizations (NGOs) are mandatorily required to be registered under the Foreign Contribution (Regulation) Act or FCRA to receive foreign funding.
Associations which do not receive foreign contribution during a particular year are also required to furnish a ‘NIL‘ return for that financial year.
Source: Business Today
Static/Current Takeaways Important for LIC AAO Exam:
- Infosys Foundation was established in 1996.
- Sudha Murthy is the chairperson of the Foundation.