Announcement
On 15 October 2026, HSBC India disclosed a four‑year flagship philanthropy programme worth INR 200 crore, running from 2026 to 2030, aimed at strengthening financial literacy, fraud prevention and livelihood resilience across India.
Programme Leadership and Inauguration
The initiative was inaugurated by a senior delegation comprising Pam Kaur, Group Chief Financial Officer of HSBC Holding plc; Jo Miyake, Head‑Banking for Asia and the Middle East at HSBC; Julian Wentzel, Group Chief Sustainability Officer, HSBC; Hitendra Dave, Chief Executive Officer of HSBC India; and Aloka Majumdar, Managing Director and Head of Sustainability for HSBC India.
Delivery Model and Partnerships
The programme will be delivered nationwide through collaborations with non‑profit organisations, academic institutions and research partners. An advisory group of eminent professionals and sector experts will provide independent guidance to translate the programme’s ambition into practical, scalable and measurable outcomes.
Target Beneficiaries
The effort focuses particularly on women, youth, migrant workers, persons with disabilities, low‑income households and first‑time users of formal financial services, seeking to move communities from mere access to active, informed participation in the formal financial system.
Contextual Background
India has opened approximately 60 crore Pradhan Mantri Jan‑Dhan Yojana accounts, of which about 33 crore are held by women. The Reserve Bank of India’s Financial Inclusion Index increased to 70 in March 2026 from 67 in March 2025, indicating progress in access, usage and quality but highlighting the need for deeper capability.
Programme Pillars
1. Digital pathways to financial well‑being – Enhancing adoption of technology and artificial intelligence to build confidence in digital financial tools and promote their safe, responsible use.
2. Financial capabilities and fraud prevention – Assisting communities to access and use formal financial products, make informed decisions and identify and prevent fraud, especially for those newly entering the formal system or with limited digital confidence.
3. Enhancing income pathways for communities – Promoting enterprise development, improving access to social protection schemes, strengthening livelihoods, managing financial shocks and fostering sustainable income opportunities.
Leadership Remarks
Hitendra Dave, CEO of HSBC India, emphasized that while India has built the foundations of financial inclusion at scale, true financial well‑being requires knowledge, confidence and practical skills to use services safely, especially as digital payments expand and new technologies transform financial services. Aloka Majumdar highlighted the vulnerability of first‑time digital users to phishing, identity theft and other fraud, noting that the programme goes beyond awareness to develop practical capability and safer financial behaviours.
HSBC India Profile
HSBC India provides a full range of banking and financial services through 34 branches across 22 cities, arranging deals for Indian companies investing overseas and foreign investments into India. It is one of India’s leading financial services groups, employing over 47,000 staff across banking, investment banking, capital markets, asset management, insurance, software development and global resourcing, and is a leading custodian in the country.
HSBC Holdings plc Overview
HSBC Holdings plc, the London‑headquartered parent of HSBC India, reported assets of US$3,438 billion as of 30 June 2026, positioning it among the world’s largest banking and financial services organisations.
Notes to Editor
HSBC India’s sustainable growth strategy centres on Community Investment (CSR interventions), Sustainable Operations, Sustainable Finance and Sustainability Risk, delivered through a combination of programmes, collaborations and partnerships, and calls for coordinated effort among business, government and other stakeholders to support a sustainable future.