To encourage more Indians to contribute to PM CARES Fund, we’re offering ₹50 Cashback on UPI Money Transfer

In the fight against COVID-19, we are aiming to contribute ₹500 Crores to PM CARES Fund. We have been putting various efforts to encourage fellow Indians to join the cause and make a contribution to the PM CARES Fund.

On the first payment through UPI linked bank account, we will give a flat cashback of ₹50 to the user. We have launched this initiative as a gesture to thank fellow Indians who have selflessly come forward to help the country during this crisis.

Users can simply go to UPI Money Transfer and link their bank accounts. Once linked, they can transfer money directly to any bank account free of charge on the Paytm App. They can also send any amount to PM CARES Fund by entering the UPI ID (pmcares@sbi) or the bank account details (A/C: 2121PM20202 & IFSC: SBIN0000691). If this is their first-ever Money Transfer on Paytm app, they will instantly get ₹50 cashback in their bank accounts.

The PM CARES Fund is exempt under the Income Tax Act, 1961 under Section 10 and 139 for return purposes. Contributions towards PM-CARES are notified for 100 percent deduction from taxable income under section 80(G) of the Income Tax Act, 1961.

Here’s some more information:

How else I can contribute my bit to join the fight against COVID-19?

Apart from donating to PM CARES Fund, you can also contribute to help us distribute soaps and hand washes in communities with the greatest need. This includes people who are part of our everyday life, such as our house helps, security guards, drivers and vegetable vendors among others.
This contribution can be made on our app and website by selecting the ‘Contribute’ icon. For this initiative, we are being supported by Lifebuoy, the hygiene brand from Unilever and YouWeCan, a foundation established by Indian cricketer Yuvraj Singh.

What are the other initiatives launched by Paytm?

We have also committed Rs. 5 crore to help all innovators, research teams and firms that are working on indigenous solutions to tackle the potential shortage of clinical ventilators and other medical solutions. If you know a company or an individual who can help us tackle this situation, please send us an email at covidcure@paytm.com.

Also, we launched a special hotel listings page on our app to support the temporary accommodation needs of healthcare professionals.