Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
In view of the havoc caused by COVID-19 coronavirus, State Bank of India (SBI) employees) have decided to contribute an additional amount of Rs 7.95 crore to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund.
The donation made by SBI employees by letting go of one day’s salary and a day’s leave encashment totals at Rs 107.95 crore, the country’s largest lender said in a statement.
Advertisement
SBI informed about the donation in a statement and said, “In March 2020, around 2,56,000 employees of SBI had donated Rs 100 crore to the PM CARES Fund which is created to fight the Coronavirus pandemic. SBI has also committed 0.25% of annual profit for FY 2019-20 as a part of its CSR activities to fight COVID-19.”
Advertisement
Public sector companies and their employees have been at the forefront in the fight against COVID-19 and they have generously contributed to the PM-CARES Fund.
At this time of crisis, SBI is taking all efforts to provide best possible banking services to its customers, it said.
The bank is also urging citizens to avail digital banking services and avoid moving out of the house so that social distancing is maintained, it added.
Advertisement
