Money & Banking

SBI employees contribute additional ₹8 crore to PM CARES

Our Bureau Mumbai | Updated on May 19, 2020

State Bank of India (SBI) on Tuesday said its employees have decided to contribute an additional ₹7.95 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund.

The total donation made by the bank’s employees by letting go of one day’s salary and a day’s leave encashment now amounts to ₹107.95 crore, SBI said in a statement.

In March 2020, around 2.56 lakh employees of SBI had donated ₹100 crore to PM CARES, which has been created to fight the pandemic.

SBI said it has also committed 0.25 per cent of the annual profit for FY20, as a part of its CSR activities, to fight Covid-19.

The PM CARES Fund was set up by the Centre with the primary objective of dealing with any kind of emergency or distress situation as posed by the pandemic, and to provide relief to the affected people.

Published on May 19, 2020

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