PM Cares Fund: This bank gets Modi government mandate for collecting donations
In a major development, state-owned Bank of Maharashtra (BoM) has been nominated by Modi government for collecting donations for the PM-CARES Fund to help fight COVID-19 pandemic.
In a major development, state-owned Bank of Maharashtra (BoM) has been nominated by Modi government for collecting donations for the PM-CARES Fund to help fight COVID-19 pandemic. The contributions can be made by cash, RTGS, NEFT, IMPS, cheques and demand drafts drawn in favour of the PM CARES Fund.
"One can also remit contributions directly by electronic clearing system (ECS) to the designated savings bank account of Bank of Maharashtra," the release said.
The contribution made for the fund is 100 per cent exempted under Section 80G of the Income Tax Act.
Last week, Indian Overseas Bank said it has been nominated for collection of donations for PM-Cares Fund.
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-Cares Fund) was set up on March 28 to raise money for combating the Covid-19 crisis and to provide relief to the affected.
Many corporates, defence personnel, employees of PSUs such as Railways, sports persons and Bollywood personalities have announced their contribution to the PM-Cares Fund.
The death toll due to novel coronavirus rose to 114 and the number of cases in the country climbed to 4,421 on Tuesday, according to the Union Health Ministry.
While the number of active COVID-19 cases stood at 3,981, as many as 325 people were cured and discharged, and one had migrated, it stated. The total number of cases include 66 foreign nationals.
According to the ministry's data updated at 9 am, three new deaths were reported from Rajasthan, while Tripura recorded its first coronavirus case.
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