Reliance Industries donates Rs. 500 crores to PM-CARES fund as India battles Coronavirus

Aiding India in its war against Coronavirus (COVID-19), Reliance Industries Limited on Monday announced a donation of Rs. 500 crore to PM-CARES Fund. The PM-CARES is set up by Prime Minister Narendra Modi to fight against the COVID-19 pandemic that has hit the country. 

RIL further apprised that in addition to the financial contribution to the PM’s Fund, the company has also provided contributions of ₹5 crores each to the governments of Maharashtra and Gujarat to support them in their fight against Coronavirus. 

Furthermore, RIL also continues its 24x7, multi-pronged, on-the-ground effort to do its bit to ensure the nation remains prepared, fed, supplied, safe, connected and motivated to fight and win against the unprecedented challenges brought upon by the Coronavirus pandemic. The company has already deployed the strengths of the Reliance Family on this action plan against COVID-19. 

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Earlier RIL had set up a dedicated COVID-19 medical centre with the Brihanmumbai Municipal Corporation (BMC) at Seven Hills Hospital in Mumbai for patients who test positive for Covid-19.

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PM CARES Donation Fund

With India battling the Coronavirus pandemic which has ensnared the globe in a vice-like grip, Prime Minister Narendra Modi has set up a charitable trust where citizens, corporates, organisations and just about anyone else can contribute funds towards the relief effort. 

The fund is called the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund, and is being called PM CARES Fund. The PM is the Chairman of this trust, with the Defence Minister, Finance Minister and Home Minister other members.

There are a number of ways to donate to the fund, one of which is via a bank transfer, and donations will be exempted from income tax under section 80(G). As per PM Modi, the fund will also cater to other distressing situations, if they occur in the times ahead.  

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