Check Credit Score
Check Credit Score
HomeNewsIndia

Coronavirus pandemic: Bank of Maharashtra employees contribute Rs 5 crore towards PM-CARES Fund

The employees of the bank have decided to give up their one-day salary and two days of leave encashment to contribute towards the fund, a release said.

April 18, 2020 / 08:25 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

State-owned Bank of Maharashtra on Saturday said its employees have contributed Rs 5 crore towards the PM-CARES Fund to support the government in the fight against the coronavirus pandemic.

The employees of the bank have decided to give up their one-day salary and two days of leave encashment to contribute towards the fund, a release said.

The bank has also been nominated by the government for collection of donations for the PM-CARES Fund.

Contributions can be made by RTGS, NEFT, IMPS, cheques and demand drafts drawn in favour of the PM-CARES Fund, the bank said.

Coronavirus India News LIVE Updates

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) was set up on March 28 to raise money for combating the COVID-19 crisis and to provide relief to the affected.

Many corporates, defence personnel, employees of public sector undertakings, such as railways, sports persons and Bollywood personalities have announced their contribution to the PM-CARES Fund.

Follow our full coverage of the coronavirus pandemic here.

PTI
first published: Apr 18, 2020 08:18 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347