Money & Banking

AU Small Finance Bank commits ₹5 crore for Covid-19 relief work

Our Bureau Mumbai | Updated on April 01, 2020 Published on April 01, 2020

AU Small Finance Bank has committed ₹5 crore for Covid-19 relief work, of which ₹2 crore is for PM CARES Fund and ₹51 lakh each to Delhi and Maharashtra Chief Ministers’ relief funds. It will also contribute ₹2 crore through various corporate social responsibility (CSR) initiatives.

Further, AU Bank will also provide support to the Rajasthan Government for a testing facility that was established in Bhilwara, one of the worst hit districts in the State, the company said in a statement.

“As an essential service provider, AU Bank is always standing strong with the Government and citizens of the country. Along with this, we are constantly taking initiatives to support our government fight the coronavirus pandemic. All the employees are participating in these efforts wholeheartedly, especially the AU Foundation team that is consistently doing need assessment and devising specific programmes for the needy,” Sanjay Agarwal, Managing Director and Chief Executive Officer at AU Bank, said.

AU Bank will also set up medical facilities at Pune and Mumbai, and provide food kits to over 25,000 families through its branch networks across 11 States. Besides, it will provide cooked meals to over one lakh families across Jaipur, Mumbai and other cities.

It is also providing medical kits with masks, gloves, personal protective equipment and sanitiser to health workers, police personnel and other frontline workers.

Published on April 01, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.