About PM CARES Fund
About Us :
Keeping in mind the need for having 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 to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ has been set up. 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 at New Delhi on 27th March, 2020.
- 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 Trust :
- 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 Prime Minister, as the Chairperson of the Board of Trustees of the PM CARES Fund, has nominated following three trustees to the Board:
- Shri Justice K.T.Thomas (Retd.)
- Shri Kariya Munda
- Shri Ratan N. Tata
- Any person appointed a Trustee shall act in a pro bono capacity.
Other details :
- The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support. The fund will be utilised in meeting the objectives as 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
- PM CARES Fund has also got exemption under the FCRA and a separate account for receiving foreign donations has been opened. This enables PM CARES Fund to accept donations and contributions from individuals and organizations based in foreign countries. This is consistent with respect to Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011.
Year Receipt and Payment Accounts (Audited) 2019-20 2020-21 2021-22
Details of Domestic Donation Account
Name of Account: PM CARES
Account Number: 2121PM20202
IFSC Code: SBIN0000691
UPI : pmcares@sbi
State Bank Of India,
New Delhi Main Branch