ICAI, ICSI And ICMAI Donated A Total Of Rs 28.80 Crore To PM CARES Fund

The three Professional Institutions under the Ministry of Corporate Affairs — Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of India(ICMAI), have pledged to contribute Rs 28.80 crore towards COVID-19 relief measures to PM CARES Fund.

So far, the ICAI has deposited over Rs 16 crore for this purpose. On March 31, it made its first contribution of Rs 1.72 crore. As on April 10, it has deposited Rs 15 crore to the fund and has pledged to collect and deposit Rs 4.28 crore by April 20.

In a letter addressing the Professional Colleagues, CS Asish Garg, the President of ICSI stated that the institution had contributed a sum of Rs 25 lakh in the first tranche to the PM CARE Fund dedicated toward the cause of curbing the spread of COVID-19.

Further, The ICSI has contributed an additional sum of Rs. Five crores from the Corpus of ICSI toward dealing with the unpredictable challenges posed by the COVID-19 as well as to provide relief to those affected.

On April 7, ICMAI President CMA Balwinder Singh tweeted about the contribution of Rs 2.5 crores made by the institute to supplement Government’s efforts towards scaling up the public health infrastructure in the country in combating COVID-19.

The details of donations made by these institutions are as below:
(Rs. In Crores)





Institute of Chartered Accountants of India 15.00 6.00 21.00
Institute of Company Secretaries of India 5.00 0.25 5.25
Institute of Cost Accountants of India 2.50 0.05 2.55





In this Endeavour, the ICAI has appealed to its one million students and member community to participate in the fight against this global pandemic actively and also donate generously for the cause.

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) was created on March 28, 2020, following the COVID-19 pandemic in India.

Prime Minister Narendra Modi is the Chairman of the trust, and its members include the Defence Minister, Home Minister and Finance Minister. This dedicated national fund has been set up with the main objective of dealing with any emergency or distress circumstances as posed by the COVID-19 pandemic, and to provide relief to the affected people.

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