PM Cares received over Rs 200 crore from salaries of RBI, govt banks, LIC employees

New Delhi, 28-Sep-2020

The Reserve Bank of India, at least seven public sector banks and seven leading financial institutions have contributed to over Rs 200 crore to the Prime Minister�s Citizen Assistance and Relief in Emergency Situations (PM Cares) fund, a report has said. Along with central educational institutions, Rs 204.75 crore from the salaries of the staff of these institutions has been so far contributed to the PM Cares fund, an Indian Express report based on RTI records stated. 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 Rs 144.5 crore. LIC alone gave Rs 113.63 crore to PM Cares fund. This included Rs 8.64 crore from staff salaries, Rs 100 crore under �Corporate Communication� and Rs 5 crore under �Golden Jubilee Foundation�. Among public sector banks, SBI topped the list with a contribution of over 107.95 crore. In the RTI query, SBI reportedly said its entire contribution was from the salaries of its employees. The RBI, meanwhile, said its Rs 7.34 crore was from �contribution by employees�. While the Prime Minister�s Office has declined to furnish details of contributions received to PM Cares, saying it is �not a public authority under RTI Act�, the details were provided by banks and financial institutions to the newspaper. The Opposition has time and again targeted the government on the issue of PM Cares Fund, which was announced by Prime Minister Narendra Modi in March so that people can contribute and help in the government's fight against the coronavirus. The Opposition, however, alleged that the fund lacked transparency. The members of PM Cares fund are the prime minister, the home minister, the finance minister and the defence minister.