Paytm Commits Rs 500 Crores to Fight COVID-19, Urges Users to do Their Bit

New Delhi: India’s leading digital payments and financial services platform Paytm pledged to donate Rs 500 crore to the PM CARES Fund to support the country’s fight against COVID-19 pandemic. “We are honoured to do our duty to aid the government in all the relief measures being taken to fight the Corona pandemic. We hope our users wholeheartedly donate to PM CARES fund and help save lives,” Madhur Deora, President – Paytm, said in a statement. Also Read – Coronavirus Outbreak: Consume These Immune-Boosting Anti-Inflammatory Drinks

Furthermore, he urged users to do their bit in the fight against coronavirus and said that for every contribution or any other payment made on Paytm using the wallet, UPI and Paytm Bank debit card, the company will contribute an extra up to Rs 10. Also Read – ‘Expressing Gratitude to All’: Shah Thanks Paramilitary Forces For Contributing to ‘PM CARES’ Fund

“We will also contribute up to Rs 10 for every payment transaction using the Paytm app and instruments. This money would be directly sent to the PM-CARES fund. Paytm commits to doing everything in its power to support the efforts of our government in coming out of this crisis,” Deora said. Also Read – COVID-19: Shakib Al Hasan Foundation Looking After 2000 Poor Families in Bangladesh Amid Coronavirus Pandemic

Besides, T-series honcho Bhushan Kumar also contributed Rs 11 crore to Prime Minister Narendra Modi’s initiative PM CARES Fund and Rs 1 crore to the Chief Ministers Relief Fund, Maharashtra to lend support to the ongoing battle against the coronavirus pandemic.

“Today, we are all at a really crucial stage & it’s extremely important to do all we can to help. I, along with my entire @TSeries family pledge to donate Rs. 11 crores to the PM-CARES Fund. We can & will fight this together, Jai Hind @PMOIndia @narendramodi #IndiaFightsCorona”, Kumar wrote on Twitter.

He added: “In this hour of need, I pledge to donate Rs. 1 crore to the CM’s relief fund along with my family at @Tseries. Hope we all get through this difficult time soon. Stay home, stay [email protected] @OfficeofUT @AUThackeray #IndiaFightsCorona.”

Earlier on Saturday, the Tata Sons and Tata Trusts had announced a whopping sum of Rs 1500 crores as aid towards fight against the COVID-19 pandemic. “In this exceptionally difficult period, I believe that urgent emergency resources need to be deployed to cope with the needs of fighting the COVID-19 crisis, which is one of the toughest challenges the human race will face,” Tata said.

The donations made by companies to the PM CARES Fund will be considered as expenditure on corporate social responsibility (CSR), said the Ministry of Corporate Affairs. “The PM CARES Fund has been set up to provide relief to those affected by any kind of emergency or distress situation. Accordingly, it is clarified that any contribution made to the PM CARES Fund shall qualify as CSR expenditure under the Companies Act 2013,” said a circular by the Ministry of Corporate Affairs.

(With agency inputs)

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