SBI employees contribute additional Rs 7.95 cr to PM-CARES Fund

Source : IANS
Author : IANS
Last Updated: Tue, May 19th, 2020, 19:40:07hrs
SBI employees contribute additional Rs 7.95 cr to PM-CARES Fund

Mumbai: In battle against the COVID-19 crisis, employees of the country's largest lender, State Bank of India (SBI) have decided to contribute an additional amount of Rs 7.95 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund.

Accordingly, the total donation made by SBI employees by letting go of one day's salaries and a day's leave encashment now amounts to Rs 107.95 crore.

"In March 2020, around 2,56,000 employees of SBI had donated Rs100 crore to the PM-CARES Fund which is created to fight the coronavirus pandemic ," SBI said in a statement.

"SBI has also committed 0.25 per cent of annual profit for FY 2019-2 0 as a part of its CSR activities to fight COVID-19."

At present, SBI is India's largest commercial bank in terms of assets, deposits, branches, customers and employees.