On World Youth Skills Day, HDFC Bank ‘Parivartan,’ announced its achievement of engaging over 3,25,000 young individuals across India through its diverse skilling initiatives.
The initiative, a cornerstone of the Bank’s CSR efforts under its Parivartan umbrella, focuses on skill development and livelihood enhancement. Currently, the Bank is managing more than 100 projects aimed at addressing skill gaps in critical sectors such as IT/ITeS, retail, healthcare, manufacturing and agriculture.
World Youth Skills Day, established by the United Nations General Assembly in 2014, emphasises the importance of equipping young people with skills for employment, entrepreneurship, and tackling global challenges. With the global youth population of 15-24 years reaching 1.2 billion and expected to rise to 1.3 billion by 2030, skill development is increasingly vital. Furthermore, India’s demographic profile, with over 50 per cent of its population under 25, highlights the urgent need for targeted skill enhancement, especially given the skill gaps identified in high-demand sectors by the National Skill Development Corporation (NSDC).
HDFC Bank Parivartan’s programmes addresses these needs by providing youth with essential skills, knowledge and certifications from reputable bodies such as the NSDC and Sector Skill Councils. These initiatives are tailored to prepare young individuals for successful careers and entrepreneurial ventures in key industries.
Commenting on the achievement, Nusrat Pathan, head-CSR, HDFC Bank, commented, “Our Parivartan programmes are designed to offer vocational training aligned with market demands while fostering confidence and ambition. Through strategic partnerships and a focus on high-growth sectors, we aim to bridge the skills gap and build a strong, inclusive workforce for the future.”
Noteworthy projects under HDFC Bank Parivartan highlight the programme’s impactful efforts in skill development across various regions:
For instance, In Mohali, Chandigarh, the initiative has provided vocational training to over 2,000 students in the healthcare, banking and retail sectors. This programme, supported by the Orion Educational Society, has achieved a notable 75 per cent placement rate, with participants seeing a 15-20 per cent increase in income as a result of their training.
In Chennai and Kochi, HDFC Bank Parivartan, in collaboration with Dr. Reddy’s Foundation, has focused on supporting skill development for Persons with Disabilities. This partnership has resulted in a 70 per cent placement rate for participants, with opportunities primarily in sectors such as Information technology, retail and manufacturing.
In Telangana, HDFC Bank Parivartan has partnered with the Bharatiya Yuva Shakti Trust (BYST) to enhance entrepreneurship. The programme has successfully engaged 800 mentors who are guiding 400 aspiring young entrepreneurs, providing them with valuable insights and support in key economic sectors.
