Question : FCRA administered by the Ministry of Home Affairs stands for _____?
Option 1: Foreign Currency Regulation Act
Option 2: Foreign Contribution Regulation Act
Option 3: Foreign Contract Regulation Act
Option 4: Foreign Cartel Restriction Act
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Correct Answer: Foreign Contribution Regulation Act
Solution : The correct answer is the Foreign Contribution Regulation Act .
An act passed in 2010 unifies the governing laws and deals with how contributions made abroad and foreign hospitality are acknowledged and used by particular people, associations, or businesses. The Act controls the entry and exit of foreign funds from India. By Section 32 of the Foreign Contribution (Regulation) Act of 2010 and Rule 20 of the Foreign Contribution (Regulation) Rules of 2011, applications for revision of orders must be submitted.
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