Nirmala Sitharaman directs banks to maintain liquidity amid coronavirus pandemic

As the country grapples with the coronavirus pandemic that has brought the global economy to a standstill, Union Finance Minister Nirmala Sitharaman on Saturday, March 28, directed the Chairman and Managing Directors (CMDs) of all public sector banks to maintain sufficient funds in the branch, ATM and at banking correspondent level keeping amid the 21-day nationwide lockdown. 

Besides making one-to-one calls to all the CMDs of the public sector banks, Sitharaman also called up the representatives of private sector banks and requested them to ensure uninterrupted banking services across the country while maintaining social distancing norms.

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BJP MPs to donate Rs 1 Cr each for COVID-19 fight

Sitharaman also contributed Rs 1 crore from her MPLAD fund for India's fight against COVID-19. This comes after BJP President JP Nadda directed all MPs of the party to donate Rs 1 crore from their MPLAD funds to the Central government relief fund to fight the coronavirus outbreak in the country.  

"All MPs of BJP will release Rs 1 crore from their MPLADS (Members of Parliament Local Area Development Scheme) fund to the Central Relief Fund in support to fight against coronavirus," said the BJP national president. 

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Humble Contributions to Fight Coronavirus

Nadda's announcement came after PM Narendra Modi launched the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund), where citizens can contribute to aide government efforts in supporting those affected by disasters - like COVID-19.

So far, actor Akshay Kumar has pledged to donated Rs 25 crore, while several other actors and sports stars have come forward to support the cause and contributed in their individual capacity. Sachin Tendulkar made a donation of 50 lakh while Suresh Raina contributed Rs 52 lakh. Film actor Varun Dhawan contributed Rs 30 lakh. The IAS association and IPS association have contributed Rs 21 lakh each.

Tata Trusts has announced a massive donation of Rs 500 crore for providing personal protective equipment (PPE) for medical personnel, respiratory systems, testing kits, modular treatment facilities and training health workers.

Soon after, Tata Sons announced an additional Rs 1000 crore to fight the ongoing crisis. India has witnessed a swell in coronavirus cases as the number of infected individuals surged to 909 with 19 deaths as on Saturday, March 28, while 79 cases have recovered and been discharged according to the Ministry of Health and Family Welfare.

(Image source - PTI)

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