India Inc offers monetary aid, other packages

MUMBAI | NEW DELHI: India’s business tycoons and leading industrialists stepped up to contribute to the battle against the surging Covid-19 pandemic sweeping the country by announcing massive monetary and other aid packages.
Ratan Tata, chairman, Tata Trusts, said the Trusts and the Tata group together would contribute Rs 1,500 crore to fight the pandemic. While Tata Trusts will fork out Rs 500 crore, Tata Sons, the holding company of the Tata group, will spend Rs 1,000 crore. Reliance Industries chairman Mukesh Ambani will contribute Rs 5 crore to the chief minister’s relief fund. Reliance Foundation will provide free meals. The group will also set up a dedicated 100-bed centre for Covid-19 patients in SevenHills Hospital in Mumbai.

Gautam Adani, chairman of Adani Group, said on Sunday that Adani Foundation will contribute Rs 100 crore to the PM-CARES Fund to fight the disease.

Uday Kotak-promoted Kotak Mahindra Bank announced a contribution of Rs 35 crore to relief efforts with Rs 25 crore going to the PM-CARES Fund, while Rs 10 crore will go to the Maharashtra Chief Minister’s Relief Fund.


Digital payment giant Paytm said it aims to contribute Rs 500 crore to the PM’s Fund to support the fight against Covid-19 outbreak. “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,” said Madhur Deora, president, Paytm. On Sunday, Paytm cofounder & CEO Vijay Shekar Sharma said, in less than a day, Paytm users have contributed Rs 20 crore.

Walmart-owned digital payments company PhonePe too opened up its app to collect donations for the fund, with the aim of mopping up Rs 100 crore. Sameer Nigam, cofounder & CEO, PhonePe, tweeted saying, “Join @PhonePe #100CrorePledge! We will add Rs 10 to everyone’s donation to the PMCARES FUND!” PhonePe will also pledge Rs 100 crore to the fund.

DLF has donated Rs 5 crore to Chief Minister’s Relief Fund in Haryana. CREDAI Gujarat has also donated Rs 5 crore to Gujarat CM’s relief fund. The Embassy Group has mobilised Rs 50 lakh from corporate occupiers so far and expects to receive more commitments. Every Embassy employee is contributing two day’s salary this month towards the Karnataka CM’s fund. Developers’ associations including NAREDCO and CREDAI are taking care of workers’ groceries and other daily needs apart from medical assistance they may require. CREDAI-MCHI is working closely with Municipal Corporation of Greater Mumbai (MCGM) and has so far spent around Rs 3 crore on immediate relief and other requisites sent by the civic body.

Mobile phone giant Oppo will contribute Rs 1 crore to the PM-CARES Fund and the Uttar Pradesh CM’s Distress Relief Fund.