Mangaluru: State-owned Indian Overseas Bank (IOB) on Saturday said the government has nominated it for the collection of donations for the PM-Cares Fund. 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.

The contributions can be made by RTGS, NEFT, IMPS, cheques and demand drafts drawn in favor of PM-Cares Fund.

“Indian Overseas Bank (IOB), has been nominated by the government for collection of funds, which will be used to support the community during the Coronavirus outbreak. The funds will be assigned to PM-Cares Fund,” the bank said in a statement.

The contributions can be made by RTGS, NEFT, IMPS, cheques and demand drafts drawn in favor of PM-Cares Fund.

One can also remit contributions directly by the electronic clearing system (ECS) to the designated savings bank account of Indian Overseas Bank.

All such contributions will be entitled to 100 percent income tax exemption under Section 80G of the Income Tax Act.

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