Be a PRO & get up to 50% off on select brands. Explore Now
you are here: HomeNewsBusiness

SBI allocates Rs 71 crore for fight against coronavirus

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.

May 03, 2021 / 03:31 PM IST
  • bselive
  • nselive
Todays L/H

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.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

SBI is in talks with various designated authorities to explore partnerships for setting up makeshift hospitals. Among others, SBI has tied up with various hospitals for vaccination of its employees and their dependent family members.

It will also bear the cost of inoculation. The bank has also converted 60 of its training centres into isolation centres for the affected employees and their family members.
first published: May 3, 2021 03:32 pm

stay updated

Get Daily News on your Browser