Why is pmnrf.gov.in not used and a personal branding named fund being used for this? PMNRF has receipt generation, in existance for ages. PM-CARES attempts at profiting out of disaster. #DisasterPayments
But there is more. pmnrf.gov.in/en masks PAN of the fund to XXXXXX 637Q. What is the need for masking a PAN of a fund? Privacy for PM fund? 
#CashlessConsumer studied #DisasterPayments and AACTP 4637 Q is the PAN of PMNRF. PMNRF also allows people to download receipts. PM-CARES doesn't have neither, didn't give a PAN for claiming 80G exemption.
docs.google.com/spreadsheets/d…
docs.google.com/spreadsheets/d…
The PIB statement pib.gov.in/PressReleseDet… mentions "Donations to this fund will be exempted from income tax under section 80(G)." -- But here is the catch, is it 100% exempt like PMNRF or 50% exempt like other private registered charties?
Who is running PM-CARES? Whoever runs it gets also donor data?
Also note that there is no tweet from @PMOIndia and the appeal came only from @narendramodi, personal account.
Remember, if there is no PAN, you can't claim IT exemption. This is #RTI reply from @IncomeTaxIndia (Systems)
PMNRF is exempted from Income Tax by statute. PM-CARES will be paying tax, so government can raise funds by taxing the received contributions citing the disaster ?
There is also attempt to drive through transactions for #YesBankCrisis hit @PhonePe_
A Quote Tweet from PM is not bad
How did PhonePe launch this in 30 minutes while other payment companies were not in loop? There is more..
A Quote Tweet from PM is not bad
How did PhonePe launch this in 30 minutes while other payment companies were not in loop? There is more..
Why does @narendramodi tweet @PhonePe_ which had enough time to put a Terms and conditions page for a campaign in 30 minutes from announcement website.phonepe.com/100crorepledge… which explicitly stated they won't be providing receipts for 80G exemption.
More from legal standpoint
No where in PM-CARES @PIB_India release, there was mention of PMNRF, But how did @PhonePe_ add this in its FAQ?
Raises an important point on donation collection / expenditure of the PMNRF fund itself. See the graph since 2014!
So the reason could be
NEHRU!
. From PMNRF about page
NEHRU!
. From PMNRF about page
More important questions from @RURALINDIA
More important questions from @SaketGokhale
So dipping from PSUs could be one reason.
. @ImSandeshJain does some fact check by donating to both #PMNRF and #PMCaresFunds - See the results
So why is a new #PMCARES fund needed when @PMNRF is having 3800 Crores balance. The devil is always in detail. Though 3800 Cr is on balance, if you see 2018-19 receipt & payment accounts pdf pmindia.gov.in/wp-content/upl… you will notice only 486.79 Crores are considered as "cash"
That is because PMNRF invested in "perpetual bonds", In 2018-19, @IDFCinstitute got a 250 Crores FDR from PMNRF, It was @UnionBankTweets in 2017.
economictimes.indiatimes.com/markets/stocks…
economictimes.indiatimes.com/markets/stocks…
When the total cash / cash equivalent reduced to 15% per accounting statements, it should have triggered alarm bells. Poor oversight + extreme centralization in decision making leads to these without sufficient checks.
The whole point of relief fund was liquidity for exigencies of greater magnitude, using that capital to invest in long term / perpetual instruments to support banking sector means we are short of cash for real need.
Sorry @IDFCFIRSTBank and not @IDFCinstitute
