You are here: Home » Companies » News
Business Standard

SBI allocates Rs 70 crore to combat second wave of Covid-19

SBI has allocated Rs 71 crore to support various initiatives in combating Covid-19 and is in talks with various designated authorities to explore partnerships for setting up makeshift hospitals

sbi | Coronavirus | Corona Remedies


state bank of india, sbi, banks, bank branch

State Bank of India (SBI) has allocated Rs 71 crore to support various initiatives in combating the second wave of Covid-19 and is in talks with various designated authorities to explore partnerships for setting up makeshift hospitals.

The country's largest commercial bank has dedicated Rs 30 crore to set up 1,000 bed makeshift hospitals, 250 bed ICU facilities and 1,000 bed isolation facilities across some of the worst-hit states.

These facilities will be set up in collaboration with government hospitals and municipal corporations of respective cities, the lender said in a statement on Monday.

will also contribute Rs 10 crore for genome-sequencing equipment, lab and vaccine research equipment to the government.

Besides, has allocated Rs 21 crore to all its 17 local head offices to address urgent medical needs of citizens including procuring life-saving healthcare equipment and enhancing oxygen supply to hospitals.

It will continue to provide PPE kits, masks, rations and cooked meals. The bank will also spend Rs 10 crore in partnering with NGOs to undertake community-based testing, strengthening vaccination drives, creating helpline for Covid-19 related matters, providing oxygen supply and other critical activities.

"We are trying our best to make a small contribution to society in the fight against the second wave," said Chairman Dinesh Khara.

"We are committed to contribute funds, resources and reach out to the citizens of India and also join in the government's efforts in fighting the virus. I urge everyone to offer their support in any form to the people in need and contribute towards making the country Covid-19 free."

has tied with various hospitals for the vaccination of its employees. The bank has also decided to bear the cost of vaccination for its employees and their dependent family members.

SBI has converted 60 of its training centres across the country into isolation/quarantine centres for affected employees and their family members

Last year, SBI had pledged 0.25 per cent of its annual profit to fight the outbreak in India and has donated over Rs 108 crore to the PM CARES Fund. In addition, SBI also contributed Rs 11 crore toward supporting the government's vaccination drive.

SBBI is the largest commercial bank in terms of assets, deposits, branches, customers and employees. The bank has a deposit base of over Rs 35 lakh crore and advances of more than Rs 26 lakh crore with CASA ratio of about 45 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 03 2021. 14:09 IST