HDFC and Standard Chartered Bank infuse huge amount for PM-CARES Fund to combat COVID-19

 Recently, the Indian Prime Minister Narendra Modi announced the formation of a Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund or PM CARES Fund where people can donate funds to help the government fight against COVID-19.

Following its launch, many corporate houses have come forward to support the government’s initiative. Recently, Financial services conglomerate HDFC Group committed to donate Rs 150 crore to the PM-Cares Fund.

HDFC Ltd chairman Deepak Parekh expressed his gratitude towards the government, healthcare professionals, police, paramilitary forces, healthcare professionals, and sanitation workers across the Nation.

Standard Chartered Bank also declared to contribute Rs 5 crore to join the efforts for fight against coronavirus in India. Soon, the bank would be working with multiple non-government organisation (NGO) partners to support migrant workers and vulnerable community in hard times.

StanChart will partner with different institutions like United Way of Mumbai, Swades Foundation and CII Foundation to supply of rations, meals, and essentials to unprivileged sections of the society.

This activity will be executed across several rural and urban parts of the country. Aakash Educational Services Limited (AESL), the player in the test preparation services, has donated Rs 50 lakh each to the PM CARES Fund and Delhi Police Welfare Society to combat coronavirus outbreak in the country. Kusum Healthcare, one of the India’s leading pharmaceutical manufacturers, also announced to make a donation of Rs 2.50 crore to the PM CARES Fund.

The Byke Hospitality, a group of vegetarian hotels and resorts in India, extended its support to local authorities and offered its properties for quarantine facility.

India is currently under lockdown. There are over 1 million cases of COVID-19 and 52,000 deaths across the globe.