The employees and representative unions of State Bank of India (SBI) have decided to contribute ₹100 crore to the PM CARES Fund to fight the Covid-19 impact.

Accordingly, an amount equal to encashment of one day’s privilege leave and deduction of a day’s salary payable in the month of April to 2.56 lakh employees of India’s largest public sector bank, will be collected by the human resource management system (HRMS) department, an internal note said.

As there is an urgent requirement to contribute such funds to the PM CARES Fund, the encashment will be effected immediately.

However, there could be a few exceptions where an employee may not be inclined for deduction of one day’s salary. Such employees will inform the opt-out decision to their Controller who will collate the opt-out requests up to April 7 and forward them to the HRMS department on April 8. In the case of Corporate Centre and Establishment, local head offices and other administrative offices, the respective Assistant General Managers (OAD) will collect such opt-out applications and forward them to the HRMS Department on April 8.

“The whole country is making efforts to contain the fast-spreading virus. In this hour of calamity, organisations are contributing in various ways to the nation’s efforts at providing basic commodities and medical facilities to the needy masses,” the note added.

The Prime Minister has appealed to all individuals and organisations to contribute wholeheartedly to support the government in its fight against the impact of Covid-19, the note said. SBI and its employees have always been at the forefront of such initiatives to help the society and the country in critical times.

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