Chartered Accountants' Body Pledges Rs 21 Crore To PM CARES Fund

ICAI pledges Rs 21 Crore to PM CARES fund

The Institute of Chartered Accountants of India (ICAI) has pledged to contribute Rs 21 crore towards COVID-19 relief measures to PM CARES Fund. So far, the institute has deposited over Rs 16 crore for this purpose. On March 31, it made its first contribution of Rs 1.72 crore. Today it has deposited Rs 15 crore to the fund and has pledged to collect and deposit Rs 4.28 crore by April 20.

In this endeavour, the CA exam regulator has appealed to its one million strong student and member community to actively participate in the fight against this global pandemic and also donate generously for the cause.

"ICAI endeavours to collect Rs 6 crores through voluntary contributions, out of which Rs 1.72 crores has been deposited in PMNRF on March 31, 2020 as first contribution by ICAI Membership, students and Officials. The balance Rs 4.28 crores will be deposited in the newly constituted PM CARES Fund by April 20, 2020. Further, responding to the clarion call made by the Hon'ble Prime Minister and also pursuant to the appeal made by Ministry of Corporate Affairs, the Central Council of ICAI has decided to additionally contribute Rs. 15 crore from ICAI towards the PM CARES Fund," it said.

ICAI along with its family of members, students & employees stands in solidarity with the nation in this fight against #COVID19Pandemic. ICAI pledges to contribute Rs 21 Cr towards #PMCARES fund for #Corona relief measures as per clarion call given by Hon'ble PM @narendramodi ji. pic.twitter.com/fbhXrUNKQE

— The Institute of Chartered Accountants of India (@theicai) April 9, 2020

Thus, the total direct financial contribution of ICAI will be Rs 21 crores in addition to the financial and community support extended by ICAI member and student community at individual level, the ICAI added.

In March last week, Prime Minister Narendra Modi had announced setting up of the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES). Called the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund or PM CARES, the fund will see the Prime Minister as the chairman of the trust and its members will include the Defence Minister, Home Minister and Finance Minister.

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