ICAI pledges to contribute towards PMNRF and PM CARES Fund for COVID-19

ICAI Contributed to PM Relief: The Institute of Chartered Accountants of India also known as the ICAI has pledged to contribute to the Prime Minister CARES Fund for the COVID-19 relief work. The ICAI has pledged to contribute Rs. 21 Crores to the PM’s Relief Fund as the country faces the spread of the Coronavirus and is in need of immediate relief work. 

The ICIA as part of its social responsibility has also appealed to its students and staff members to actively participate in the cause to fight the epidemic and donate generously to the cause. In the detailed notification released on the official website of the ICAI, the institution has also provided a link for the staff and student members of the institution to donate to the PM Relief Fund. 

ICAI PM Relief Fund Official Notification 

According to reports, the ICAI is also venturing into collecting Rs. 6 Crore via voluntary contributions from which 1.72 Crores have been deposited in the PMNRF on March 31, 2020, as part of the first contribution of the institution along with its students and officials. The reports suggest that the remaining Rs 4.28 Crores will be deposited in the newly constituted PM CARES Fund by April 20, 2020. 

The Central Council of ICAI has also decided to contribute an additional amount of Rs. 15 Crores from the ICCAI towards the PM CARES Fund in response to the appeals made by the Prime Minister and the Ministry of Corporate Affairs. 

Adding all the amounts given, the direct financial contributions made by the ICAI towards the COVID-19 relief fund will be Rs. 21 Crores along with the Financial and Community Support extended by the members and student community of the ICAI at the individual level. 

The official notification states that the institution has decided to stand with the countrymen and participate in the national efforts to support them during this difficult time. The notification also adds that during the lockdown period the institution is advising everyone to 'Stay Home' following the advisory by the government adding that it is the need of the hour to contribute to the government initiatives to boost the infrastructure and human ware to fight the ongoing epidemic. 

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