India, 27 September 2024 :
·
Grants of up to SGD 1
million each will be awarded to three transformative businesses in the tenth
year of DBS Foundation.
·
The focus on ageing aligns with DBS Foundation’s
dual emphasis on providing essential needs and fostering inclusion for
vulnerable communities.
Marking a decade of creating impact,
the DBS Foundation unveiled the new Impact
Beyond Award with an aim to support
enterprises that provide innovative solutions to the world’s most ‘wicked’
problems. Each year the Award intends to pose a challenge statement and invite
businesses to pitch their transformative ideas. This year the focus will be on
ageing and the Foundation will be seeking solutions that will enable everyone
to grow old with dignity and purpose.
According to the 2023 India Ageing
Report by United Nations Population Fund (UNFPA)[1],
the percentage of the elderly demographic (60 years and above) in India is
projected to double to over 20% of the total country’s population by 2050. While
an ageing population can be viewed as a societal challenge, the DBS Foundation
believes it can also be an opportunity to be harnessed – both to change
traditional mindsets, as well as to scale ‘longevity businesses’.
The Award is part of DBS’ SGD 1 billion commitment over
ten years to uplift vulnerable segments of society, and complements the
longstanding DBS Foundation Grant.
Each of the three Impact Beyond awardees will receive
prize money of up to SGD 1 million beyond financial support, the winning
enterprises will be mentored by the bank’s senior management and other business
leaders, and gain access to potential investors. It is open to social
enterprises and small-and-medium enterprises (SMEs) that have at least SGD 5
million in annual revenue in the most recent financial year. Applications from
around the world are welcomed, and the application window is open from 20 September
to 30 November 2024.
Azmat Habibulla, Managing Director and Head of Group
Strategic Marketing & Communications, DBS Bank India,
said: “The introduction of the Impact Beyond Award marks a significant
milestone in DBS Foundation's ten year journey. This year’s spotlight on
tackling the issues linked with an ageing society are a demonstration of the
Foundation’s commitment to empowering the most vulnerable segments of the
population. The complexities of an ageing demographic in India will only keep
increasing and we believe that this award will be a catalyst to scale purpose-driven
solutions in healthcare, social support systems and financial inclusion to improve
the quality of life of senior citizens. With DBS’s holistic approach that goes
beyond banking, we are looking forward to championing these businesses and fostering
long-term inclusivity through innovative solutions."
DBS
Bank, which is approaching its 30th year in India, recently launched
a priority banking program for senior citizens called ‘DBS Golden Circle’,
which has been designed to offer a comprehensive suite of benefits and
services, focused on making banking simpler and more rewarding for resident Indian
citizens aged 60 years and above. In 2020, the DBS Foundation awarded a grant to
ElderAid Wellness, a Business For Impact that provides
a range of home-based health and wellness services to support the elderly and enables
them to live their golden years with independence, dignity and security.
For more information on the DBS
Foundation, please visit: www.dbs.com/dbsfoundation
About
DBS
DBS
is a leading financial services group in Asia with a presence in 19 markets.
Headquartered and listed in Singapore, DBS is in the three key Asian axes of
growth: Greater China, Southeast Asia, and South Asia. The bank's
"AA-" and "Aa1" credit ratings are among the highest in the
world. In 2024, CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the
corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the
certificate of deposits programme was
also reaffirmed at ‘CRISIL A1+’.
Recognised
for its global leadership, DBS has been named “World’s
Best Bank” by Global Finance, “World’s
Best Bank” by Euromoney, and “Global
Bank of the Year” by The Banker. As
a different kind of bank, DBS is at the forefront of leveraging digital
technology to shape the future of banking, having been named “World’s
Best Digital Bank” by Euromoney and the world’s “Most
Innovative in Digital Banking”
by The Banker. In addition, DBS has been accorded the “Safest
Bank in Asia” award by Global
Finance for 15 consecutive years from 2009 to 2023. In line with its
focus on responsible banking, DBS was named the Best Bank for Sustainable
Finance – India by Global Finance in 2024. Additionally, DBS Bank was ranked
among the top 3 on Forbes' list of the World's Best Banks in India for three
consecutive years, from 2020 to 2022.
DBS
Bank has been present in India for 30 years, opening its first office in Mumbai
in 1994. DBS Bank India Limited is the first among the large foreign banks in
India to start operating as a wholly owned, locally incorporated subsidiary of
a leading global bank. As a trusted partner, DBS provides a range of banking
services for large, medium, and small enterprises and individual consumers in
India, focusing on a seamless customer experience that helps them ‘Live more,
Bank less’. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India
Limited. DBS Bank India now has a network of ~500 branches in 19 Indian states.
DBS
is committed to building lasting relationships with customers as it banks the
Asian way and understands the intricacies of doing business in the region’s
most dynamic markets. Through the DBS Foundation, the bank creates impact
beyond banking by supporting businesses for impact: enterprises with a double
bottom-line of profit and social and/or environmental impact. DBS Foundation
also gives back to society in various ways, including equipping underserved
communities with future-ready skills and helping them to build food resilience.
With
its extensive network of operations in Asia and emphasis on engaging and
empowering its staff, DBS presents exciting career opportunities. For more
information, please visit www.dbs.com.
Media Contacts:
|
DBS Bank India Rohini Rego rohinirego@dbs.com 99305 49207 |
Adfactors PR Chennakeshav Shenoy Ck.shenoy@adfactorspr.com 9819266998 |
[1]
https://india.unfpa.org/sites/default/files/pub-pdf/20230926_india_ageing_report_2023_web_version_.pdf