Money & Banking

SBI commits part of profit to fight Covid-19 outbreak

Our Bureau Mumbai | Updated on March 24, 2020 Published on March 24, 2020

State Bank of India on Monday said it will commit 0.25 per cent of its annual profit (FY2020) to fight the Covid-19 outbreak situation in India.

India’s largest bank said the fund used to fight Covid-19 pandemic will be spent from Corporate Social Responsibility (CSR) funds.

The bank, in a statement, said it will use this fund for various activities related to Covid-19, mainly to support health care for underprivileged people in co-operation with health care professionals and industry.

Some of the initiatives will centre around promotion of healthcare, including preventive health care and sanitation and disaster management, it added.

Rajnish Kumar, Chairman, SBI said, “We at SBI will continue our support towards the people and communities of India amidst this critical period in the best possible way.”

Published on March 24, 2020
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