India, 06 Mar 2023 - DBS Foundation has partnered with Haqdarshak Empowerment Solutions (HESPL) to undertake a social protection and financial literacy programme aimed at marginalised citizens across India, including daily wage earners, domestic workers, farm workers, sanitation workers, micro-entrepreneurs. The programme will educate 2,00,000 beneficiaries (70% women) to build their digital and financial capacity to access relevant government entitlements and private financial services.

The programme is being implemented in 10 districts in Andhra Pradesh, Chhattisgarh, Odisha, Tamil Nadu, and Telangana, targeting some of the most vulnerable populations in these areas. The initiative's ultimate aim is to establish a basic social safety net for these citizens and empower them with digital and financial training to take charge of their lives and households.

Under this initiative, a brick-and-mortar centre called a Yojana Kendra will be established in select communities. Women agents will be identified and trained asHaqdarshaksto serve and support the community. This agent cadre will mobilise potential beneficiaries, from low-income families i.e. those with minimal access to social protection and financial services.

The support agents will conduct financial literacy training camps using audio-visual tools and easy-to-understand content in local languages. Beneficiaries will be screened with the Haqdarshak mobile app to determine their eligibility for welfare programs and the agent will provide end-to-end support to fill forms, collect documents, and register beneficiaries under social protection programmes. A helpline will be available for any queries or grievance redressal. The programme will be executed by 400 support agents, and there will be one supervisor for every 40 agents.

The financial literacy rate among Indian adults is the lowest compared to other major emerging economies, with only 24% being financially literate, according to a report by the Global Financial Literacy Excellence Center. This disparity is attributed to a need for formal training and awareness, as well as inter-state differences. Access to social welfare and financial inclusion services at the last mile is a critical challenge. According to a 2017 World Bank study, only 40 per cent of Indians can apply for government services as they cannot afford the time and money to access them. The collaboration comes at a crucial time when marginalised communities continue to grapple with the economic impact in the wake of the pandemic.

Shoma Narayanan, Managing Director, Group Strategic Marketing & Communications, DBS Bank India, said, "As a socially responsible bank, we recognise the need to create impact beyond banking and to encourage solutions for a more inclusive world. Our partnership with Haqdarshak is a concerted effort to empower marginalised communities, particularly women, by providing them access to social welfare and financial tools, which will increase self-sufficiency and give them agency over their lives. We are also proud of Haqdarshak, which has scaled significantly as a Business for Good under the DBS Foundation's Grant Programme, and shares our purpose to build a better future."

Aniket Doegar, Founder & CEO, Haqdarshak, commented on the partnership, saying,"DBS Foundation has been an early partner of ours since 2018. They have always put impact at the forefront and supported us, whether it was when Haqdarshak was a young organisation, through the pandemic, or now, as we have achieved scale. For us at Haqdarshak, this is our largest project so far. We are excited about our impact footprint - we will be touching the lives of 2,00,000 citizens, majority of them women, across disadvantaged sections of the community via digital and financial literacy training and by linking them to relevant welfare entitlements. We are grateful to the DBS Foundation for collaborating with us on this important program. We hope to grow our partnership manifold in the years to come."

Haqdarshak aims to improve the lives of citizens and MSMEs by leveraging technology solutions to provide access to government welfare and financial services. With an extensive database of 7000+ state and central welfare schemes, available in 11 Indian languages through web and mobile channels, Haqdarshak offers features such as beneficiary onboarding, a customisable eligibility engine, and an end-to-end application workflow.

In 2018, as an early-stage venture, Haqdarshak received DBS Foundation's Social Enterprise Grant for their digital platform. Again in 2020, in response to the pandemic, DBS Foundation reinforced its commitment to supporting social enterprises by awarding all its past grantees the Business Transformation and Improvement (BTI) Grant, empowering them to continue during an exceptionally difficult year. Haqdarshak utilised this grant to serve its beneficiaries and the wider MSME community through a new platform providing access to government-assisted schemes for registrations, documentation, and financing applications.

Earlier this year, DBS bank committed an additional SGD 100 million to further its efforts to improve lives in Asia. This would allow the bank and DBS Foundation to boost their support for purpose-driven businesses and contribute towards finding solutions to the region's increasingly pressing societal issues.


About DBS
DBS is a leading financial services group in Asia with 19 markets. Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Banks of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 14 consecutive years from 2009 to 2022. DBS was also ranked No. 1 on Forbes' list of the World's Best Banks in India for two consecutive years.

DBS Bank has been present in India for 28 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides an entire range of banking services for large, medium and small enterprises and individual consumers in India. In 2016, DBS launched India's first mobile-only bank, digibank, with ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The bank now has a network of nearly 525 branches across 19 states in India.

DBS provides a full range of consumer, SME, and corporate banking services. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities through supporting social enterprises, as it banks on the Asian way. It has also established an SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and Asia. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste. In 2022, DBS committed an additional SGD 100 million to deepen the ability to create impact beyond banking, catalysing the bank's various philanthropic and crisis relief measures.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit of our 30,000+ staff representing over 40 nationalities. For more information, please visit

About DBS Foundation
DBS Foundation is focused on creating impact and improving lives through championing social entrepreneurship and preparing communities for the future.

The existing "Business for Impact" chapter was established when DBS Foundation commenced operations in 2014 and focuses on championing businesses and social enterprises with a dual bottom line.

In 2022, the DBS Foundation expanded the scope and scale of its operations with the formation of the new "Community Impact" chapter. The new chapter looks to supporting communities by equipping them with essential skills for a better future, specifically financial and digital literacy skills. It also aims to tackle climate change with a focus on food waste reduction.

For more information, please

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DBS Group Holdings Ltd. published this content on 06 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2023 09:06:06 UTC.