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Out of Rs. 1.02 Crore, Rs. 73 Lakhs granted from Chartered Accountants Benevolent Fund: ICAI Chief

ICAI - Chartered Acountants - Taxscan

The President of the Institute of Chartered Accountants of India ( ICAI ) has recently said that so far an amount of Rs. 1,02,35,824/- has been received by the Chartered Accountants Benevolent Fund (CABF), out of which, Rs. 73,00,000/- has been utilized.

The CABF was formed to provide financial assistance for maintenance, education or medical treatment to its members and their families in distress.

While addressing the members of the Institute, the ICAI Chief said that “ICAI is committed to working for the welfare of its members and students in every possible way. As you know, ICAI had set up Chartered Accountants’ Benevolent Fund (CABF) in the year 1962 to provide financial assistance for maintenance, education or medical treatment of its members and their families in distress.”

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“The Fund, with the contributions of its members, is gradually growing strong. A total contribution of 1,02,35,824/- has been received so far by the CABF and a sum of 73,00,000/- has been granted as financial assistance to the members in distress and to the families of deceased members during 1st April 2018 to 30th November 2018. I would appeal my membership to keep donating to the Fund so that it will always be there to help our members in distress and the families of our deceased members,” he said.

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