HDFC Bank Parivartan Trained 3.25 Lakh Youth

Covering high-demand sectors like IT/ITeS, healthcare, manufacturing and agriculture, HDFC Bank Parivartan’s programmes offer market-linked skilling crucial to addressing India's skill gap

Nusrat Pathan, Head of CSR at HDFC Bank

FinTech BizNews Service

Mumbai, 15 July 2024: On World Youth Skills Day, HDFC Bank Parivartan is proud to celebrate a significant milestone, having engaged over 325,000 youth across India through its various skilling programmes. Skill Development and Livelihood Enhancement is a key focus area of the Bank’s Parivartan programme, its umbrella brand for all CSR initiatives.  The Bank is currently working on over 100 projects in the area of Skill Development across different states, covering multiple sectors including IT/ITeS, retail, healthcare, manufacturing and agriculture.

Instituted in 2014 by the United Nations General Assembly on 15th July, World Youth Skills Day celebrates the strategic importance of equipping young people with skills for employment, decent work, and entrepreneurship, as well as for addressing global challenges and advancing sustainable development.

Skilling is a global demand, and investing in skill development remains pivotal since as per the United Nations, the number of young people aged 15-24 globally comprises 1.2 billion individuals. This demographic is projected to rise to 1.3 billion by 2030, representing 16 per cent of the world's population. India occupies a unique position, with over 50 per cent of the total population below 25 years of age. However, recent data from the National Skill Development Corporation (NSDC) reveals skill gaps in high-demand sectors like IT, healthcare, manufacturing, agriculture, and renewable energy, underscoring a critical need to skill, up-skill, and right-skill the country’s youth.

HDFC Bank Parivartan's youth training programmes address these needs by equipping young people with essential skills, knowledge, and competencies to thrive in today's dynamic job market. These training programmes come with certifications from the National Skill Development Corporation (NSDC), Sector Skill Council, or other qualified non-government agencies; and offer targeted training to prepare youth for successful careers and entrepreneurial ventures in key industries.

Ms. Nusrat Pathan, Head of CSR at HDFC Bank, stated, “At HDFC Bank, we believe that empowering our youth with the right skills is crucial for the socio-economic development of our nation. Our Parivartan training programmes are designed not only to provide vocational skills linked with market demands, but also to instil confidence and ambition in young minds. By collaborating with esteemed partners and focusing on sectors with high growth potential, we are committed to bridging the skills gap and creating a robust and inclusive workforce for the future. Our mission is to ensure that every young individual we reach has the opportunity to thrive and contribute to India's dynamic economy.”

HDFC Bank Parivartan undertakes several impactful projects to enhance skills and employment opportunities for youth, across India. Notable projects include:

• Vocational Training for over 2,000 students in healthcare, banking, and retail sectors, supported by the Orion Educational Society in Mohali, Chandigarh, with a 75% placement rate and 15-20% increase in income for participants.
• Collaboration with Dr. Reddy’s Foundation in Chennai and Kochi where HDFC Bank Parivartan is supporting skill training for Persons with Disabilities and has seen a 70% placement rate primarily in sectors such as Information Technology (IT), Retail, Banking, Manufacturing, Logistics, E-commerce, and Hospitality.
• In partnership with the Bharatiya Yuva Shakti Trust (BYST), HDFC Bank Parivartan has brought together 800 mentors with an aim to provide comprehensive guidance and support to 400 aspiring young entrepreneurs in key economic sectors in Telangana.

As HDFC Bank Parivartan continues its mission, it remains committed to empowering the next generation, fostering innovation, and ensuring sustainable development for communities across India.