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Power Finance Corporation Contributes Rs 200 Crore Under CSR To PM CARES Fund

Power Finance Corporation has pledged to contribute Rs 200 crore to the PM-CARES Fund to support the battle against COVID-19, a company statement said.

Power Finance Corporation

State-owned NBFC Power Finance Corporation (PFC) is the latest company to join a growing list of firms contributing to the PM CARES fund. The company on Monday said it has pledged to contribute Rs 200 crore to the “Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund” (PM-CARES Fund) to support the battle against COVID-19.

In a statement, the leading NBFC in the power sector said, "PFC’s employees will voluntarily contribute a day’s salary to ‘PM-CARES Fund’ to further strengthen the nation’s fight against the dreaded disease."

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Donation under CSR

Earlier, PFC had agreed to provide financial assistance of Rs. 50 lakh to the Indian Red Cross Society in Rajasthan. Under the CSR Initiative, PFC’s financial aid will be used for the distribution of Health Masks and Sanitisers, as a part of preventive measures against COVID-19.

"PFC and its employees remain vigilant and alert in these testing times and stand in solidarity with the society at this crucial juncture. As a responsible corporate, PFC is relentlessly working towards implementation of all precautionary measures to deal with the pandemic," the statement said.

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With India battling the Coronavirus pandemic which has ensnared the globe in a vice-like grip, Prime Minister Narendra Modi has set up a charitable trust where citizens, corporates, organisations and just about anyone else can contribute funds towards the relief effort. The PM is the Chairman of this trust. Other members of the trust include Defence Minister, Finance Minister, and Home Minister.

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