Not only educational institutions, Rs. 205 crores remitted to PM Cares Fund, salary of staff of RBI, government banks and LIC

According to the records, Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and National Housing Bank also gave around Rs 144.5 crore for this fund. They gave this money apart from their Corporate Social Responsibility (CSR) allocation and other provisions.




Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund comprises not only central education institutions but also at least seven public sector banks, seven other major financial institutions and insurance companies and the Reserve Bank of India (RBI) for Rs 204.75 crore. Mobilized. This huge amount was deducted from the salary of all these staff and transferred to this fund. This was revealed during the investigation of RTI Records by our associate newspaper ‘The Indian Express’.

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According to the records, Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and National Housing Bank also gave around Rs 144.5 crore for this fund. They gave this money apart from their Corporate Social Responsibility (CSR) allocation and other provisions.

In such a situation, the total amount of funds in the fund by 15 government banks and institutions responding to the RTI of ‘The Indian Express’ comes to Rs 349.25 crore.

In the list of Public Sector Banks and Institutions responding to RTI, the highest amount was given to PM CARES by LIC alone. This is Rs 113.63 crore. However, this amount was given under various categories, of which Rs 8.64 crore was given from staff salary, Rs 100 crore under ‘Corporate Communication’ and five crore rupees under ‘Golden Jubilee Foundation’.



Records show that LIC donated Rs 100 crore as on March 31, while five crore was also donated in March, but on what date? This was not clarified in the reply.

SBI has the highest amount of funds sent to the fund by seven public sector banks. In response to the RTI, it was told that 100 crore rupees were transferred in the first batch on 31 March. The country’s largest bank also stated that this entire support amount was given in the salary of its employees. At the same time, the RBI said that 7.34 crore rupees were given ‘in cooperation on behalf of its employees’.

When Indian Express asked these banks and institutions through RTI, this information came out:

Canara Bank said that it gave a total amount of 15.53 crores. Did not give more information.

Union Bank of India contributed Rs 14.81 crore from the encashment of one day privelage leave of the employees.

Central Bank of India supported Rs 11.89 crore from the two-day prelive leave encashment of its workers.

Bank of Maharashtra gave five crore rupees. This amount from one day salary and two days leave encashment of employees.

SIDBI, Small Industries Development Bank of India gave 80 lakh rupees to the fund. These rupees were deducted as voluntary contribution from the salary of the employees.

GIC gave 14.51 lakh rupees from one day employees salary.

IRDAI, Insurance Regulatory and Development Authority gave 16.08 lakh rupees. This amount from ‘voluntary contribution’. Of employees.

Explain that the PM Cares Fund was formed on March 28 this year in the wake of the Corona virus crisis. As of 31 March, the fund had received Rs 3,076.62 crore, which according to the official website of the PM Cares Fund was ‘Voluntary Contributions’.



The Prime Minister’s Office i.e. PMO manages this fund, which has refused to give details of the cooperation amount received from various places in the past. The argument has been made – PM CARES is not a public authority under the Right to Information Act.

NABARD, National Bank for Agriculture and Rural Development gave 9.04 crore rupees to the fund, which was from the salary of employees and retired employees.

National Housing Bank also gave Rs 3.82 lakh from ‘Employee Contribution’.

The post Not only educational institutions, Rs. 205 crores remitted to PM Cares Fund, salary of staff of RBI, government banks and LIC appeared first on informalnewz.



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