HSBC India has committed Rs 200 crore to a nationwide financial literacy programme that will run from 2026 to 2030, targeting communities that face barriers to accessing and using formal financial services.
The four-year philanthropic initiative will be implemented through non-profit organisations, academic institutions and research partners. It aims to help people make informed financial decisions, use digital banking services safely, identify fraud and improve their financial security.
The programme 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 guidance on implementation and outcomes.
What will the Rs 200-crore programme cover?
The initiative has three focus areas.
The first, digital financial well-being, will encourage the safe and responsible use of digital financial services, including technology and artificial intelligence tools.
The second will focus on financial capability and fraud prevention, helping participants understand financial products, make informed choices and recognise risks such as phishing and identity theft.
The third area will focus on income opportunities, including enterprise development and access to social protection schemes. The programme is intended to help households strengthen their livelihoods and manage financial shocks.
HSBC India CEO Hitendra Dave said financial literacy had become increasingly important as digital payments and new technologies reshape financial services. “Financial literacy and protection against fraud become essential to sustaining trust,” Dave said, adding that partnerships between industry, community organisations and academic institutions could help extend these capabilities to underserved communities.
Why is financial literacy a concern?
India has expanded access to formal banking through initiatives such as the Pradhan Mantri Jan-Dhan Yojana. However, access to a bank account does not necessarily mean that a person can confidently use digital financial services, assess financial products or recognise fraudulent transactions.
According to figures cited in HSBC's announcement, around 60 crore Jan-Dhan accounts have been opened, including approximately 33 crore held by women. The Reserve Bank of India's Financial Inclusion Index rose to 70 in March 2026, up from 67 in March 2025. The index measures progress in financial inclusion across access, usage and quality.
Aloka Majumdar, HSBC India's managing director and head of sustainability, said first-time users of digital financial services could be vulnerable to phishing, identity theft and other forms of fraud. The programme, she said, would go beyond awareness-building to develop “practical capability and safer financial behaviours”.
How will the programme be implemented?
HSBC India will work with non-profit, academic and research organisations to deliver the programme across the country. The bank has also announced an advisory group to guide the initiative and support measurable outcomes.
The announcement does not specify the number of beneficiaries, state-wise allocations or the amount to be spent under each of the three focus areas.
The programme adds to existing government-led financial literacy efforts. The Reserve Bank of India and the National Centre for Financial Education run awareness campaigns on safe banking, financial management and fraud prevention. The RBI's multilingual RBI Kehta Hai campaign promotes awareness of safe banking practices, while financial literacy centres conduct programmes for different groups.
HSBC's initiative will run over four years, from 2026 to 2030. Its stated focus is to help people move beyond access to formal financial services towards using them safely and making informed financial decisions.