Sep 4: In an endeavor to channel the contributions made by the public towards those impacted by the recent floods in Kerala, the Bank has launched a mobile app named FedConnect. The app offers a unique platform for the public to make donations to people affected by the floods. The app also enables the people in need of support to lodge their request for help.
The donor can complete the process of contributing in a few clicks and can be done using debit/credit cards, internet banking or UPI. Any amount from ₹ 2500/- can be donated through this app.
A person seeking support can place request for funds in the app. Federal Bank Hormis Memorial Foundation will verify the authenticity and genuineness of the request and one or more contributions will be allocated to satisfy this request.
50% of the amount contributed through the app will be available for deductions under Section 80G of Income tax Act. The app offers a transparent process of channeling contributions and Federal Bank ensures that the funds reach the deserving people. The app is now available on Play Store.