Coronavirus Pandemic: SBI employees to contribute ₹100 crore to the PM CARES Fund

Coronavirus Pandemic: SBI employees to contribute ₹100 crore to the PM CARES Fund

The employees and representative unions State Bank of India (SBI) have pledged ₹100 crore to the PM CARES Fund to help the government fight the COVID-19 impact. 

An internal note said, "Accordingly, an amount equal to encashment of one day’s privilege leave and deduction of a day’s salary payable in the month of April to 2.56 lakh employees of India’s largest public sector bank, will be collected by the human resource management system (HRMS) department."

Since there is an urgent need to contribute the money to the PM CARES Fund, the encashment will be effected immediately.

However, there could be a few exceptions where an employee may not want a deduction of one day’s salary. Such employees will inform the opt-out decision to their Controller who will collate the opt-out requests up to April 7 and forward them to the HRMS department on April 8.

In the case of Corporate Centre and Establishment, local head offices and other administrative offices, the respective Assistant General Managers (OAD) will collect such opt-out applications and forward them to the HRMS Department on April 8.

“The whole country is making efforts to contain the fast-spreading virus. In this hour of calamity, organisations are contributing in various ways to the nation’s efforts at providing basic commodities and medical facilities to the needy masses,” the note added.

The note also asked the employees to be at the forefront of such initiatives as the Prime Minister has appealed to all individuals and organisations to contribute to support the government in its fight against the impact of COVID-19.

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