PM CARES Fund
‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ has been set up as a dedicated fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and providing relief to the affected. PM CARES Fund has been registered as a Public Charitable Trust. The trust deed of PM CARES Fund has been registered under the Registration Act, 1908.
The PM CARES Fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support. The fund will be utilized in meeting the objectives stated above.
Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961. Donations to PM CARES Fund will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013.
Objectives of PM CARES Fund
- To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity, or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
- To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
- To undertake any other activity, which is not inconsistent with the above Objects.
Constitution of the PM CARES Fund
- Prime Minister is the ex-officio Chairman of the PM CARES Fund and Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
- The Chairperson of the Board of Trustees (Prime Minister) shall have the power to nominate three trustees to the Board of Trustees who shall be eminent persons in the field of research, health, science, social work, law, public administration, and philanthropy. Any person appointed a Trustee shall act in a pro bono capacity.
PM CARES Fund Recent Update
The government has appointed Ratan Tata and two others as trustees namely Justice KT Thomas, and former deputy Lok Sabha speaker Kariya Munda. Other PM CARES Fund trustees include Union Home minister Amit Shah and Finance minister Nirmala Sitharaman.
PM Cares Fund Details
Name of Account: PM CARES
Account Number: 2121PM20202
IFSC Code: SBIN0000691
State Bank Of India,
New Delhi Main Branch
During 2020-21 an amount of Rs. 7013.99 Crore has been collected under the PM CARES Fund.
PM CARES Fund Address and PAN
Address: Under Secretary (Funds), PMO, South Block, New Delhi, Pin -110011
PM CARES Fund – FAQs
Q. Who is the ex-officio Chairman of the PM CARES Fund?
Ans. Prime Minister is the ex-officio Chairman of the PM CARES Fund.
Q. Who are the ex-officio trustees of the PM CARES Fund?
Ans. Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
Q. Who have been appointed as trustees of the PM CARES Fund?
Ans. Industrialist Ratan Tata and two others namely Justice KT Thomas, and former deputy Lok Sabha speaker Kariya Munda have been appointed as the trustees of the PM CARES Fund.