SBI employees to give Rs 100 crore to PM’s coronavirus fund; other PSUs also chip in

By: |
March 31, 2020 5:49 PM

The government-run State Bank of India’s employees will part with two days salary to contribute to Prime Minister Narendra Modi’s PM Cares fund.

The announcement comes in addition to SBI’s earlier commitment of 0.25% of its annual profit for FY 2019-20 as a part of its CSR activities to fight coronavirus.

The government-run State Bank of India’s employees will part with two days salary to contribute to Prime Minister Narendra Modi’s PM Cares fund. “In the fight against COVID-19, around 2,56,000 employees of the country’s largest lender, State Bank of India (SBI) have decided to contribute two days’ salary to the Prime Minister’s National Relief Fund,” the bank said in a statement on Tuesday. The collective amount will be around Rs 100 crore. The announcement comes in addition to SBI’s earlier commitment of 0.25% of its annual profit for FY 2019-20 as a part of its CSR activities to fight coronavirus.

“It is a matter of pride for State Bank of India that all our employees voluntarily came forward to pledge their two days’ salary to the PM CARES Fund. This is the time where we all need to combat this battle of Covid-19 outbreak with united efforts,” Rajnish Kumar, Chairman, SBI, said. Many industrialists and individuals have also pledged support in the fight against the outbreak of the virus. While RIL chairman Mukesh Ambani pledged Rs 500 crore to PM’s coronavirus fund some others have also pledged non-monetary help. Mahindra & Mahindra group, for instance, has offered its Mahindra resorts to provide temporary care to those suffering from the coronavirus. The group is also working towards helping ramp up the manufacturing of ventilators which are crucial to healthcare.

Meanwhile, other public sector companies such as Oil and Natural Gas Corp (ONGC) and Indian Oil Corp (IOC) have contributed over Rs 1,000 crore to the government’s coronavirus fund. ONGC led the pack and it alone contributed Rs 300 crore. This was followed by IOC which pledged Rs 225 crore. Bharat Petroleum Corp Ltd (BPCL) also chipped in Rs 175 crore, while Hindustan Petroleum Corp Ltd (HPCL) contributed in Rs 120 crore.

Meanwhile, the coronavirus cases have climbed to over 1,200 with at least 32 deaths so far.

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