CURRENT AFFAIRS

Detailed explanation-1: -A statement from IOB said the contributions can be made by RTGS, NEFT, IMPS, Cheques, and Demand Drafts are drawn in favor of “PM CARES FUND”. Contributions can also be sent directly by Electronic Clearing System (ECS) to the designated Savings Bank Account of PM Cares Fund to Indian Overseas Bank.

Detailed explanation-2: -Union Bank of India has been authorised, as a contribution collection banking partner for PM CARES Fund. Contribution in this fund is exempted under Sec 80(G) and formal contribution receipts can be downloaded by the donors from the ‘PM CARES’ Portal after 30 days of successful contribution.

Detailed explanation-3: -8 What type of domestic donations are accepted in PM CARES Fund? PM CARES Fund accepts voluntary contributions by individuals/organizations as well as contributions as part of CSR from Companies/Public Sector Undertakings (PSUs). However, contributions flowing out of budgetary sources of the PSUs are not accepted.

Detailed explanation-4: -The Prime Minister, as the Chairperson of the Board of Trustees of the PM CARES Fund, has nominated following three trustees to the Board: Shri Justice K.T. Thomas (Retd.) Shri Kariya Munda.

Detailed explanation-5: -The Fund was set up to deal with “any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected.” During the year, funds were disbursed for COVID vaccine purchase and testing, ventilators, hospitals, testing labs, oxygen generation plants and migrant welfare.