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Federal Bank Launches Various Covid-19 Relief Activities

  • Every donation collected through Federal Bank portal will be topped with matching amount by Federal Bank Hormis Memorial Foundation, CSR arm of the Bank
  • 50% of the amount donated on the portal will be eligible for deduction under Section 80G of Income tax Act

Mumbai: April 8, 2020: In an effort to support people affected by the nationwide lockdown imposed in the wake of corona outbreak, Federal Bank has started a drive for pooling donations from its employees and customers. The Bank has set up a portal for collection of donations on the Bank’s website. Every contribution received will be topped up with an amount matching the remittance by Federal Bank Hormis Memorial Foundation, CSR arm of the Bank. The funds so pooled will be used for supporting community kitchen initiatives and providing Covid-19 testing kits in different parts of the country.



Under this project, The CSR Foundation of the Bank is funding for 21 community kitchens in Kerala. Entire purchases for all the community kitchens in the constituencies of Aluva, Angamaly and Perumbavoor during the declared lockdown period will be met by the Foundation. Inauguration of the project was done jointly by Mr Roji M John MLA, Mr Anwar Sadath MLA, Mr V P Sajeendran MLA, Mr Eldhose Kunnappilly MLA and Mr Joy Thomas, Deputy Vice President and Federal Bank Aluva Regional Head on 4th April 2020.

The Foundation has partnered with HelpAge India for providing 5000 food packets to migrant workers and slum dwellers in five locations of Delhi NCR on all days of the lockdown. Inauguration of the initiative was done in Delhi by Mr Nandakumar V, Senior Vice President and Network 2 Head of Federal Bank on Saturday. 

The Foundation will also make available 1000 Covid-19 testing kits each in Kerala and Pune. 50% of the amount donated on the portal will be eligible for deduction under Section 80G of Income tax Act. 

About Federal Bank:

Federal Bank is a leading private sector bank with a branch network of 1,251 branches and 1,934 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at Rs 2.46 Lakh Crore as at March 31, 2019 and it has earned a net profit of Rs. 1,244 Crore for FY19. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.14%. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.

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