Tsunami Relief: Banks asked to facilitate Donations to Prime Minister’s National Relief Fund

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Published on December 29, 2004

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Tsunami Relief: Banks asked to facilitate Donations to Prime Minister’s National Relief Fund

All the branches of commercial banks will receive donations to the Prime Minister's National Relief Fund (PMNRF). The banks will also nominate a Nodal Branch in New Delhi for the purpose of collection of contribution. This was decided in consultation with Prime Minister's Office and the Indian Banks’ Association. The Prime Minister's Office has further designated the following branches to centrally receive the funds and remit them to the PMNRF:

(i) Central Bank of India, 70, Janpath, New Delhi,

(ii) State Bank of India, Institutional Division, Parliament Street, New Delhi

(iii) Union Bank of India, 14/15F, Connaught Place, New Delhi

(iv) Dena Bank, Mangal Bhawan, Arya Samaj Road, Karol Bagh, New Delhi

(v) Syndicate Bank, South Block, New Delhi

(vi) Corporation Bank, M-41, Connaught Circus, New Delhi.

(vii) Bank of India, 54, Janpath, New Delhi

(viii) Indian Overseas Bank, Parliament Street, New Delhi.

(ix) Punjab National Bank, Parliament Street, New Delhi

(x) Indian Bank, P45/90, Connaught Circus, New Delhi.

(xi) Allahabad Bank, Parliament Street, New Delhi

(xii) Citi Bank, 3rd Floor, Jeewan Bharti Building, 124, Connaught Circus, New Delhi

Explaining the mechanics put in place to expedite remittances, the Reserve Bank of India stated that each collecting branch would send the collection to its respective nodal branch of its own bank in New Delhi each day along with the details of the donor, his address, cheque/draft number and the amount of contribution. The nodal branches will in turn remit the funds to any of the 12 designated branches which are maintaining PMNRF account. The banks which do not have any branch in New Delhi will collect the donations and remit through a single demand draft or by using the electronic funds transfer facility to any of the 12 designated branches along with details of the donor, his address, cheque/draft number and the amount of contribution.

Banks offering on line remittance services have been asked to offer the service for remitting donations and prominently display the facility of on-line payment of donations on their websites. Banks have been asked to offer all these services free of charge.

Contributions to the PM’s National Relief Fund are notified for 100 per cent deduction from taxable income under Section 80(G) of the Income-tax Act. The Prime Minister's Office will issue an official receipt to the donor as per the current practice.

To facilitate smooth transmission of funds to the PMNRF Account and any clarification, the Reserve Bank has nominated its Regional Director, New Delhi (Telephone Nos. 011-23711333(O) and 011-24697922 (R) and Fax No. 011-23711250) as the coordinating officer.

Alpana Killawala
Chief General Manager

Press Release: 2004-2005/680