DBS Foundation teams up with The/Nudge Institute to enhance economic opportunities for 85,000 low-income families in India, aligning with its $1 billion pledge for inclusive growth by 2030.
The DBS Foundation, in partnership with The/Nudge Institute, has announced the launch of the DBS Foundation x The/Nudge Institute Economic Inclusion Programme in India. This structured initiative aims to support low-income households, particularly women in rural and disadvantaged communities, by providing sustainable livelihood pathways and promoting long-term economic stability [1][3][5].
The programme's goal is to close the financial literacy gap and enable long-term stability [6]. Atul Satija, CEO and Founder of The/Nudge Institute, expressed that the programme aims to create a model of economic mobility rooted in skilling and self-reliance [6]. Karen Ngui, the Head of DBS Foundation, echoed this sentiment, stating that the programme is about empowering individuals to navigate banking systems, develop savings habits, and protect themselves against fraud [6].
The programme uses an evidence-based "graduation approach," combining consumption and livelihood grants with around 150 weeks of intensive skill-building training in sectors relevant to rural economies [1]. Participants will learn various skills, such as agriculture (vegetable cultivation, kitchen gardening), livestock management (dairy, goat rearing, poultry), and micro-enterprises (tailoring, provision stores, traditional crafts like handwoven products and pottery) [3].
In addition to skill development, the programme focuses on enhancing financial and digital literacy, facilitating access to formal microfinance institutions and government welfare schemes, and addressing challenges such as income instability, lack of access to credit, and exclusion driven by gender norms [1][3]. The programme particularly focuses on women, aiming to improve their overall well-being and economic inclusion [1][3].
The partnership aims to support 85,000 low-income households in states like Gujarat and Jharkhand over four years, backed by an investment of approximately INR 65.56 crore (SGD 9.98 million) from DBS Foundation [1]. This initiative is part of DBS Foundation’s broader commitment to inclusive growth, fostering self-reliance and economic mobility through skilling and empowerment initiatives focused on women as key agents of change within their families and communities [1][3].
The DBS Foundation is also working with Haqdarshak Empowerment Solutions in India to expand access to welfare entitlements for 500,000 individuals [2]. The programme promotes financial resilience among its participants, aiming to improve income stability, nutritional access, and coping with daily stressors [3].
In summary, the programme offers a comprehensive, evidence-based model that integrates livelihood training, financial literacy, and access to formal financial and welfare services to help low-income rural households achieve stable incomes, improve nutrition, and build financial resilience, with a strong emphasis on women’s empowerment and long-term economic inclusion [1][3].
References: [1] DBS Foundation. (2021). DBS Foundation and The/Nudge Institute partner to drive economic inclusion for underserved communities in India. Retrieved from https://www.dbs.com/globalcitizens/news/dbs-foundation-and-the-nudge-institute-partner-to-drive-economic-inclusion-for-underserved-communities-in-india.html [2] DBS Foundation. (2021). DBS Foundation partners Haqdarshak to expand access to welfare entitlements for 500,000 individuals in India. Retrieved from https://www.dbs.com/globalcitizens/news/dbs-foundation-partners-haqdarshak-to-expand-access-to-welfare-entitlements-for-500000-individuals-in-india.html [3] The/Nudge Institute. (2021). DBS Foundation and The/Nudge Institute launch Economic Inclusion Programme in India. Retrieved from https://www.thenudgeinstitute.com/dbs-foundation-and-the-nudge-institute-launch-economic-inclusion-programme-in-india/ [4] DBS Foundation. (2020). DBS Foundation commits SGD 1 billion to inclusive growth over the next decade. Retrieved from https://www.dbs.com/globalcitizens/news/dbs-foundation-commits-sgd-1-billion-to-inclusive-growth-over-the-next-decade.html [5] DBS Foundation. (2021). DBS Foundation and The/Nudge Institute Economic Inclusion Programme. Retrieved from https://www.dbs.com/globalcitizens/our-work/dbs-foundation-and-the-nudge-institute-economic-inclusion-programme.html [6] The Business Times. (2021). DBS Foundation and The/Nudge Institute partner to drive economic inclusion for underserved communities in India. Retrieved from https://www.businesstimes.com.sg/banking-finance/dbs-foundation-and-the-nudge-institute-partner-to-drive-economic-inclusion-for-underserved-communities-in-india
- The DBS Foundation's Economic Inclusion Programme, in collaboration with The/Nudge Institute, aims to foster growth in rural and disadvantaged communities by promoting financial literacy, facilitating access to formal microfinance institutions, and providing sustainable business skills training.
- Karen Ngui, the Head of DBS Foundation, emphasizes that the programme is not just about financial inclusion, but also about empowering individuals to develop savings habits, manage their finances effectively, and protect themselves against fraud.
- In alignment with DBS Foundation's broader commitment to education-and-self-development, the Economic Inclusion Programme offers intensive training in relevant sectors like agriculture, livestock management, and micro-enterprises, with a specific focus on women's empowerment and long-term economic inclusion.
