SBI commits 0.25 per cent of annual profit to help fight COVID-19

Ankur Bhattcharya
Kolkata, 24 March : India’s largest public sector Bank ‘State Bank of India’ (SBI) has committed to donate 0.25 per cent of its annual profit of 2019-20 to fight COVID-19 outbreak situation in India.

Announcing this unique gesture the Chief General Manager of SBI, Bengal Circle, quoting SBI Chairman Rajnish Kumar here today said the fund used to fight COVID-19 pandemic would be spent from the CSR funds of the bank.
‘This is in line with Ministry of Corporate Affairs’ notification of spending CSR funds for COVID-19 as an eligible CSR activity’, he said.

Further elaborating, he said the bank would use this fund for various activities related to COVID-19 mainly to support health care for underprivileged people in cooperation with health care professionals and industry. ‘Some of the initiatives will centre around promotion of healthcare, including preventive health care and sanitation and disaster management’, he said.

Once again quoting Rajnish Kumar, he said ‘This is a time for the nation to be united. We at SBI will continue our support towards the people and communities of India amidst this critical period in the best possible way. I also urge all the responsible corporate citizens to come forward and not only take all precautionary preventive measures for entire staff, their families and people around but also contribute generously to support fellow countrymen who need financial help in these unprecedented difficult times.’