Huge corporate donations to PM-CARES

Huge corporate donations to PM-CARES

After Tata Trusts and Tata Sons donated Rs 1,500 Cr on Saturday to PM-CARES, several more corporate philanthropists have been in the news. 

Mukesh Ambani has pledged Rs 5 Cr to the CM Relief Fund of Maharashtra.  Reliance Foundation will be providing free meals to COVID-19 patients.  It recently set up a 100-bed hospital to help the government deal with the health emergency.  

Gautam Adani of Adani Group donated Rs 100 CR to PM-CARES.  Uday Kotak and Kotak Mahindra Bank donated Rs 35 Cr towards several relief efforts and another Rs 25 Cr to PM-CARES.  Rs 10 Cr of this will go to the CM Relief Fund of Maharashtra State.  

Paytm will contribute Rs 500 Cr to PM-CARES, saying that the company will contribute up to Rs 10 for every payment transaction made through Paytm app.  PhonePe seeks to donate another Rs 100 Cr.  

Meanwhile, the Corporate Affairs Ministry has said that the donations made by companies will qualify for CSR contributions.