PM CARES Fund
The Government of India has set up Prime Minister's Citizen Assistance & Relief in Emergency Situations Fund(PM CARES Fund) following the COVID-19 Pandemic in India.The fund will be used to provide relief against similar pandemics situations like Coronavirus .The Prime Minister is the Chairman of the trust.
KEY POINTS ABOUT THE FUND
- It is a public charitable trust with Prime Minister as its head and includes other Cabinet ministers like Defence,Home & Finance.
- The fund will also enable micro-donations.The minimum donation accepted for the PM CARES Fund is rs10. The donations will be tax exempt and fall under Corporate Social Responsibility.
- Any contribution made to the PM CARES Fund before 30 June would qualify for a full amount of Tax exemption under Income Tax Act,1961.
- PM Cares Fund is different from Prime Minister 's National Relief Fund(PMNRF) 1948, as it is used to raise fund to support people affected by natural disaster like flood, earthquake, cyclone etc. and man made disaster like major accidents,acid attacks,riots etc. while PM Cares Fund is for COVID-19 and similar pandemic situation.
- Official Upi address of PM CARES Fund is - pmcares@sbi. The only purpose to mention this upi here is to prevent frauds regarding donations as many fraud upi accounts has been created under similar name.