Kotak Mahindra Bank, Uday Kotak jointly pledge ₹50 crore to PM-CARES Fund

NEW DELHI : In the wake of COVID-19 pandemic, Kotak Mahindra Bank and its Managing Director Uday Kotak pledged immediate support of ₹50 crore to the PM-CARES Fund. "Kotak Mahindra Bank and Uday Kotak personally commit immediate support of ₹50 crore to PM-CARES Fund ( ₹25 crore each)," said Kotak Mahindra Bank on its Twitter handle.

The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) is a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation.

PM Modi had called for Indians to heartily contribute to the fund after announcing a 21-day lockdown in the entire country to deal with the coronavirus pandemic.

According to the Ministry of Health and Family Welfare (MoHFW), there are 979 confirmed cases of coronavirus cases in the country, out of which 86 people have been cured or discharged.