Mumbai, October 15, 2026: HSBC India has announced a four-year flagship philanthropy programme with a commitment of INR 200 crore to strengthen financial literacy across the country. The initiative, running from 2026 to 2030, aims to equip communities with the knowledge, confidence and practical skills needed to participate actively and safely in the formal financial system.
The programme will be delivered nationwide through partnerships with non-profit, academic and research organisations. It will focus on women, youth, migrant workers, persons with disabilities, low-income households and first-time users of formal financial services. An Advisory Group of professionals and sector experts will provide independent guidance to ensure the programme’s objectives are met in a scalable and measurable manner.
Programme pillars and objectives
The initiative is structured around three pillars: promoting digital pathways to financial well-being by enhancing technology and AI adoption among underbanked communities; building financial capabilities and fraud prevention skills to help communities use formal financial products safely; and enhancing income pathways by supporting enterprise development and improving access to social protection schemes.
The programme was inaugurated by Pam Kaur, Group Chief Financial Officer, HSBC Holding plc, along with Jo Miyake, Head-Banking, Asia and the Middle East, HSBC; Julian Wentzel, Group Chief Sustainability Officer, HSBC; Hitendra Dave, CEO, HSBC India; and Aloka Majumdar, Managing Director and Head of Sustainability, HSBC India.
Sector context and recent progress
India has seen significant growth in financial access, with around 60 crore Pradhan Mantri Jan-Dhan Yojana accounts opened, including 33 crore held by women. The Reserve Bank of India’s Financial Inclusion Index increased to 70 in March 2026 from 67 in March 2025, reflecting improvements in access, usage and quality. However, HSBC India noted that access alone is insufficient and that building financial capability is essential for sustained financial well-being.
Leadership perspectives
Hitendra Dave, CEO, HSBC India, said the country’s digital public infrastructure has enabled access to formal financial systems, but that knowledge and practical skills are necessary for safe usage as digital payments expand. “Partnerships between industry, community organisations, and academic institutions can help extend these capabilities to underserved communities and advance the vision of Viksit Bharat,” Dave said.
Aloka Majumdar, MD and Head of Sustainability, HSBC India, added that first-time users of digital financial services are particularly vulnerable to fraud and that the programme aims to develop practical capability and safer financial behaviours, moving beyond awareness-building to support lasting financial well-being.
Disclaimer: This article is based on a press release provided by the concerned organisation and has been edited for style and clarity with the assistance of AI tools. BusinessFortnight does not verify, endorse, or take responsibility for the claims, figures, or statements made in the original release.
