Uday Kotak, Kotak Mahindra Bank donate Rs 60 crore in fight against Covid-19

By: |
March 29, 2020 6:26 PM

Various entities from the corporate sector have been making announcements on monetary donations or other material help to help fight the virus threat in India.

Uday Kotak, the wealthiest banker in the country, will be donating Rs 25 crore to the “PM Cares Fund”.

Private sector lender Kotak Mahindra Bank and its managing director Uday Kotak on Sunday announced a Rs 60 crore donation to fight coronavirus pandemic. The bank will be donating Rs 25 crore to the “PM Cares Fund” and Rs 10 crore to Maharashtra Chief Minister’s Relief Fund for COVID-19, it said in a tweet.

Uday Kotak, the wealthiest banker in the country, will be donating Rs 25 crore to the “PM Cares Fund”, another tweet said. “Next few weeks will define decades for humanity. Science and medicine beat the virus. Economics and finance contain the fallout. Time to protect both lives and livelihoods. We have beaten plague, smallpox, polio and prospered – I have faith,” the banker had tweeted on Saturday.

Various entities from the corporate sector have been making announcements on monetary donations or other material help to help fight the virus threat in India. Over 975 people have been infected by the virus and 25 people have died because of it. The country is under a three-week lockdown till April 14 to contain the spread of the virus and staring at a massive economic impact.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Smaller NBFCs seek liquidity support from RBI
2Current quarter seems to be quite challenging: Shyam Srinivasan, MD & CEO, Federal Bank
3Expect to grow loan book by 30% for next few years: Manoj Viswanathan, MD & CEO, Home First Finance