HDFC Bank gets mandate to collect donations for PM-CARES Fund for Coronavirus relief

HDFC Bank has received the mandate to collect donations for the PM CARES Fund, the bank said in a statement on Sunday. The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) was created on March 28 following the COVID-19 outbreak in India. 

According to the statement, individuals can now donate from their homes using debit cards, credit cards, UPI and other digital banking channels. The donors can also use official UPI handle pmcares@hdfcbank to make donations, stated the bank.

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'It's an honour'

Aditya Puri, Managing Director, HDFC Bank stated: "It's an honour to have been given this opportunity. I'd urge all of us to make the most of it and help the government in this gargantuan effort that it is making to ensure minimum disruption to our life." The bank said it has contributed Rs 150 crore to the PM CARES Fund to support the government for its relief and rehabilitation measures towards the pandemic.

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Tax exempted 

HDFC Bank said the contributions to the fund are exempted under Section 80 (G) of the Income Tax Act and formal receipts can be downloaded from the PM-CARES portal after 15-20 days of the donation and that donors can also make contributions to leading national NGOs including Goonj, Rapid Response Force and HelpAge India.

Section 80G allows a taxpayer tax deduction on donations made to any charitable organization.

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PM CARES Fund

Prime Minister Narendra Modi launched the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund), wherein citizens can contribute to aid government efforts in supporting those affected by disasters. This fund will provide relief to the affected from any walk of life dealing with any kind of emergency or distress situation. PM Modi also urged Indians to donate generously. Several private and public sector firms have also been joining the growing number of list of companies donating to PM CARES.

(PTI Photo)

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