Govt nominates IOB for collecting donations for PM Cares Fund

By Press Trust of India|5th Apr 2020
Indian Overseas Bank (IOB) on Saturday said the government has nominated it for the collection of donations for PM-Cares Fund.
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State-owned Indian Overseas Bank (IOB) on Saturday said the government has nominated it 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.


"Indian Overseas Bank (IOB) has been nominated by the government for collection of funds, which will be used to support the community during the Coronavirus outbreak. The funds will be assigned to PM-Cares Fund," the bank said in a statement.


Indian Overseas  Bank



The contributions can be made by RTGS, NEFT, IMPS, cheques and demand drafts drawn in favour of PM-Cares Fund.


One can also remit contributions directly by electronic clearing system (ECS) to the designated savings bank account of Indian Overseas Bank.


All such contributions will be entitled to 100 percent income tax exemption under Section 80G of the Income Tax Act.


Political leaders, corporates, defence personnel, employees of PSUs such as Railways and Bollywood personalities are among a cross-section of organisations and people who have announced their contribution to the PM-Cares Fund.


All officials of the external affairs ministry are also donating a day's salary, while some of them are voluntarily donating more.


The Army, Navy, and Indian Air Force as well as employees of the defence ministry have decided to donate one day's salary totalling around Rs 500 crore.


Also, Maharashtra Cyber police officials said today that Fraudsters are using fake links to dupe people in the name of online coronavirus donations to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund, also known as PM CARES Fund.


They said several such links have been traced and disabled.


Officials asked people to use the authentic link, which is pmcares@sbi to donate funds to fight the virus outbreak.


Officials said Maharashtra Cyber has registered 78 cases during the lockdown for online misinformation on the coronavirus outbreak.


These include eight in Mumbai, six each in Pune Rural and Satara district, five each in Beed and Nashik Rural, four each in Nagpur, Nashik city, Thane and Kolhapur, an official said.


(Disclaimer: Additional background information has been added to this PTI copy for context)

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