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SBI allocates `71 cr to fight Covid

SBI allocates `71 cr to fight Covid

New Delhi: The country's largest lender SBI on Monday announced allocating Rs 71 crore towards the fight against COVID-19, a part of which will be used to set up a makeshift 1,000-bed hospital for the treatment of patients in some of the worst-affected states.

State Bank of India (SBI) has allocated Rs 71 crore to undertake various support initiatives to combat the second wave of COVID-19, SBI said in a release.

The state-owned lender has allocated Rs 30 crore for a makeshift hospital while Rs 21 crore will be used to support initiatives such as procurement of life-saving healthcare equipment, oxygen supply to hospitals, Covid-care centres, ambulances, PPE kits, masks as well as food relief efforts.

Besides, Rs 10 crore will be used to supplement government's effort in genome sequencing, and Rs 10 crore will be earmarked to collaborate with on-ground NGOs to address the community needs, SBI said. The bank will continue to serve citizens through its extensive network of over 22,000 branches.

The facilities would be set up in collaboration with government hospitals and municipal corporations of the needy cities. SBI is in talks with various designated authorities to explore partnerships for setting up makeshift hospitals. PTI

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