CSR Foundation launches training programs aimed at fostering economic empowerment and financial literacy

Mumbai, India: NIIT Foundation, a leading non-profit organization dedicated to empowering individuals via education and skill development, recently launched their latest initiative, in collaboration with HDFC ERGO General Insurance, one of India’s premier general insurance firms, to introduce two impactful training programs aimed at fostering economic empowerment and financial literacy among underserved communities.

The initiative, which commenced in June 2024, NIIT Foundation and HDFC ERGO undertakes two key programs, which include training in Banking, Financial Services, and Insurance (BFSI) with the placement opportunities to the successful candidates, and Financial Literacy training – aiming to impact 4,500 individuals across Delhi and Tamil Nadu.

The BFSI training programme targets to impact 500 beneficiaries aged between 20 and 30 years old, by providing them with comprehensive training in the segment, followed by complete assistance in securing meaningful employment opportunities upon successfully completing the training.

Simultaneously, the Financial Literacy training program aims to educate and empower 4,000 individuals with essential financial knowledge and skills via practical insights into financial planning, management, and understanding insurance products. The program is open to people of all ages, accommodating citizens between 18 and 60 years of age, with an aim to equip participants with the necessary tools to make informed financial decisions and uplift individuals, particularly those belonging to underserved communities, to break the cycle of poverty.

Highlighting the importance of the partnership, Dr. Charu Kapoor – Country Director – NIIT Foundation, noted, “Reports suggest that despite the BFSI industry’s exponential growth, our workforce still lacks 50% of the skills that are prerequisite for the BFSI segment[1], making upskilling an integral component.

Recognising this, NIIT Foundation is pleased to be partnering with HDFC ERGO to further our efforts in not only bridging the skill gap in the BFSI industry but also improve financial literacy among underserved communities, equipping individuals with the necessary skills and knowledge to thrive in today’s dynamic economic landscape.”

“Learning is the new currency and skill will be the primary differentiator going forward. At HDFC ERGO, we believe in the philosophy – The future is here and now. VidyaaVriksh is a step towards realising that. By combining our expertise in insurance domain with NIIT Foundation’s training reach, our collaboration aims to making a significant difference in the lives of thousands of individuals – aiding them in both ending the cycle of financial insecurity but also empowering them to build a secure and prosperous future,” said Mr. Anuj Tyagi – CEO and Managing Director, HDFC ERGO

The training programs, which will be conducted through NIIT Foundation’s established network of training centres, target to impact 4,500 individuals by the end of the current fiscal year, fostering a culture of financial literacy and empowering individuals via necessary skills required to excel in life.

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