HSBC India on Thursday announced a ₹200 crore, four-year philanthropy programme to strengthen financial literacy across the country, with a focus on helping people use formal and digital financial services safely and confidently.
The programme, which will run from 2026 to 2030, aims to equip communities with the knowledge and practical skills to make informed financial decisions, protect themselves against fraud, improve their livelihoods, and build financial resilience.
The initiative was inaugurated by Pam Kaur, Group Chief Financial Officer, HSBC Holdings plc; Jo Miyake, Head of 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.
Focus on underserved communities
“The country’s digital public infrastructure has enabled citizens to access formal financial systems,” said Hitendra Dave, CEO, HSBC India. “As digital payments expand, and new technologies transform financial services, financial literacy and protection against fraud become essential to sustaining trust. Partnerships between industry, community, organisations, and academic institutions can help extend these capabilities to underserved communities and advance the vision of Viksit Bharat.”
The programme will be implemented nationwide through partnerships with non-profit organisations, academic institutions and research bodies. It will focus on women, youth, migrant workers, persons with disabilities, low-income households, and first-time users of formal financial services.
“First-time users of digital financial services can also be particularly vulnerable to phishing, identity theft and other forms of fraud which can cause financial loss and weaken trust in formal services. Our programme goes beyond awareness-building to develop practical capability and safer financial behaviours, supporting the shift from financial access to lasting financial well-being,” said Aloka Majumdar, MD and Head of Sustainability, HSBC India.
An advisory group comprising professionals and sector experts will provide independent guidance to help translate the programme’s objectives into scalable initiatives with measurable outcomes.
Financial access remains a challenge
India has made significant progress in expanding financial inclusion, with around 60 crore accounts opened under the Pradhan Mantri Jan-Dhan Yojana, including approximately 33 crore held by women. The Reserve Bank of India’s Financial Inclusion Index rose to 70 in March 2026 from 67 in March 2025, reflecting improvements in access, usage and the quality of financial services.
However, expanding access alone is not enough. The next phase of financial inclusion will require people to use financial services regularly and confidently, while strengthening their digital capabilities and ability to protect themselves against fraud.
HSBC India’s programme seeks to address this gap by positioning financial capability as a foundational life skill that can improve outcomes across education, healthcare, livelihoods and social security.