The Reserve Bank of India, at least seven public sector banks and seven financial institutions have contributed a whopping ₹200 crore to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM Cares) fund, an Indian Express report citing RTI records has found.
₹204.75 crore from the salaries of the staff of these institutions has been contributed to the PM Cares fund till now, the report mentioned.
As per the report, apart from their Corporate Social Responsibility (CSR) allocation and other provisions, Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and National Housing Bank contributed over ₹144.5 crore.
LIC alone contributed ₹113.63 crore to PM Cares fund which included ₹8.64 crore from staff salaries, ₹100 crore under ‘Corporate Communication’ and ₹5 crore under ‘Golden Jubilee Foundation’.
Among public sector banks, SBI contributed the most with over ₹107.95 crore and mentioned in the report that its entire contribution was from the salaries of its employees.
The RBI, meanwhile, said its ₹7.34 crore was from ‘contribution by employees’.
While the Prime Minister’s Office has refused to provide details of contributions made to PM Cares, saying it is ‘not a public authority under RTI Act’, the details were furnished by banks and financial institutions.
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