Kotak Mahindra Bank, CEO commit Rs 50 cr to PM-CARES Fund

In a tweet on Sunday, the bank said: "Kotak Mahindra Bank & Mr. Uday Kotak personally, commit immediate support of Rs 50cr to PM-CARES (Rs 25cr each)."

The 'Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund' (PM- CARES Fund)' is a public charitable trust with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected.

The bank has also separately committed Rs 10 crore for the cause to the Chief Minister of Maharashtra.

"Kotak Mahindra Bank commits immediate support of Rs 10cr to Chief Minister of Maharashtra towards COVID relief and rehabilitation efforts. @CMOMaharashtra," said another tweet by the bank.

Several corporate entities have made announcements and come up with steps help combat the deadly virus.

The total tally of coronavirus cases in India climbed up to 1,024 on Sunday, said the Health Ministry. Of this 901 are active COVID 19 cases, 95 people have recovered from the disease and 27 have died. One coronavirus patient migrated abroad.