Mumbai: HSBC India will spend INR 200 crore over four years on financial literacy across India, the bank said on October 15, 2026.
The programme runs from 2026 to 2030 and will be delivered nationwide through non-profit, academic and research partners. It 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 independent guidance.
The programme was inaugurated by Pam Kaur, Group Chief Financial Officer of HSBC Holdings plc, with Jo Miyake, Head of Banking for Asia and the Middle East; Julian Wentzel, Group Chief Sustainability Officer; Hitendra Dave, CEO of HSBC India; and Aloka Majumdar, Head of Sustainability at HSBC India.
India has about 60 crore Pradhan Mantri Jan Dhan Yojana accounts, around 33 crore of them held by women. The Reserve Bank of India’s Financial Inclusion Index rose to 70 in March 2026 from 67 in March 2025. HSBC said access alone is not enough, and people now need to be able to use financial services regularly, safely and with confidence.
“India has built the foundations of financial inclusion at scale, but true financial well-being begins with the knowledge, confidence and practical skills to use financial services safely. The country’s digital public infrastructure has enabled citizens to access formal financial systems. As digital payments expand, and new technologies transform financial services, financial literacy and protection against fraud become essential to sustaining trust. Partnerships between industry, community, organisations, and academic institutions can help extend these capabilities to underserved communities and advance the vision of Viksit Bharat,” said Dave.
The programme has three parts. The first promotes the safe use of digital financial tools and artificial intelligence among underbanked communities. The second helps people use formal financial products, make informed decisions and identify and prevent fraud. The third supports enterprise development, access to social protection schemes and the ability of households to manage financial shocks.
Majumdar said first-time users of digital financial services can be especially exposed to phishing, identity theft and other fraud, which can cause financial loss and weaken trust in formal services. The programme, she said, is about “supporting the shift from financial access to lasting financial well-being.”
HSBC India has 34 branches across 22 cities. HSBC has more than 47,000 employees in India across banking, investment banking and capital markets, asset management, insurance, software development and global resourcing. Its London-headquartered parent, HSBC Holdings plc, operates in 56 countries and territories, with assets of US$3,438 billion as of June 30, 2026.
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Our analysis
HSBC has 34 branches in India but more than 47,000 employees here, so its presence in the country is far larger than its retail network. This programme extends that presence to communities well beyond its own customers, with fraud prevention as a core focus.
The commitment works out to about INR 50 crore a year. Its value will depend on whether the measurable outcomes the bank has promised are delivered and made public.
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