Reliance Industries announces Rs 500 crore contribution to PM CARES Fund

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Reliance Industries' chief Mukesh Ambani on Monday committed a further Rs 500 crore to the Prime Minister's COVID-19 fund, topping up over the multi-crore initiative of India's first coronavirus hospital, meals to the needy, and fuel to emergency vehicles.

In addition to the financial contribution to the PM’s Fund, Reliance Industries has also provided contribution of Rs 5 crore each to the governments of Maharashtra and Gujarat to support their fight against COVID-19, according to a company statement.

"Reliance Industries Ltd (RIL) today announced a donation of Rs 500 crore to PM CARES Fund in response to the call by the Prime Minister to support the nation’s fight against the coronavirus onslaught," RIL statement said.

RIL continues its round-the-clock, multi-pronged, on-the-ground effort to do its bit to ensure the nation remains prepared, fed, supplied, safe, connected and motivated to fight and win against the unprecedented challenges brought upon by the coronavirus pandemic, the statement added.

The company said it has already deployed the strengths of the Reliance Family on this action plan against coronavirus, and that RIL and its team have stepped up across cities and villages and pressed additional capabilities into the service of the nation.

"We are confident that India will conquer the coronavirus crisis sooner rather than later. The entire Reliance Industries team is with the nation in this hour of crisis and will do everything to win this battle against Covid-19," Mukesh Ambani, Chairman and Managing Director of RIL said.

Nita Ambani, Founder Chairperson of Reliance Foundation, said, “As the nation comes together to fight the Covid-19 pandemic, all of us at Reliance Foundation stand in solidarity with our countrymen and women, especially those on the frontlines to whom we pledge our full support. Our doctors and staff have helped set up India’s first Covid-19 Hospital and are committed to supporting the government in exhaustive screening, testing, prevention, and treatment of Covid-19.”

The need of the hour is to support marginalised and daily wage communities, she said adding that "through our meal distribution programme, we aim to feed lakhs of people daily across the country.”

Earlier this month, RIL had announced a host of measures as an aid in the ongoing coronavirus outbreak including continued pay to temporary workers, setting up a dedicated covid-19 hospital and ramping up face-mask production.

Corporate India has been rushing in to help the government and citizens fight the covid-19 pandemic in India. Tata Trusts & Tata group together have pledged Rs 1,500 crore - by far the highest by any corporate.

Paytm will contribute Rs 500 crore to PM's Fund, L&T and NMDC have contributed Rs 150 crore each. Firms or philanthropy arms of billionaires Gautam Adani, Anil Agarwal and Sajjan Jindal have each contributed Rs 100 crore and so has an equal amount committed by HUL, PhonePe, Torrent Group and Bajaj Group.

ITC has pledged Rs 50 crore. Torrent Group will contribute Rs 50 crore towards PM-CARES Fund and an equivalent amount for other initiatives such as providing medicines to government hospitals.

Private sector lender Kotak Mahindra Bank and its Managing Director Uday Kotak announced a Rs 60-crore donation. Asian Paints has chipped in Rs 35 crore, TVS Motors Rs 25 crore and LNJ Bhilwara Group Rs 5.51 crore. IIFL has committed Rs 5 crore.