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J.P. Morgan donates ₹17 crore to SAGE Foundation

Our Bureau Mumbai | Updated on June 03, 2020 Published on June 03, 2020

J.P. Morgan will donate ₹17 crore ($2.25 million) to Shahani Academic & Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training, to help train and upskill 4,800 graduates from economically disadvantaged backgrounds.

The grant will be utilised to teach new skills in the Banking and Financial Services Industry (BFSI) using advanced technology to meet evolving needs of employers. This is the second grant that SAGE Foundation has received from J.P. Morgan, the foundation said in a statement.

“With the demand for work-ready professionals with deep industry knowledge on the rise, it is imperative that educational institutions alter their approach and provide students with real and tangible skills that are relevant to the workforce of today. Against the current economic environment this is even more critical,” Akhil Shahani, Managing Director, Shahani Group, said.

“The funds will facilitate our goal of helping students reach their full potential and finding jobs in the banking sector,” he added.

The BFSI sector is investing heavily in technology and the digitalisation of its products and services, creating a demand for individuals with specific skills and talents along with a practical knowledge of the industry.

The foundation will adopt innovative teaching methods to enable under-privileged youth to get entry-level jobs. This will be achieved through a blended learning model, a combination of online and classroom courses that develop students’ communication, sales and problem-solving skills while providing them with necessary domain knowledge.

The foundation will collaborate with its training arm Smart Institute for skills training.

“Businesses across sectors are facing challenges in finding and employing skilled talent. This programme will help bridge the gap between employee skills and employer needs by giving underprivileged students an opportunity to acquire the appropriate training for the right skills that are needed to build careers. We look forward to high-yielding results,” Maneesha Chadha, Head of Philanthropy for India, J.P. Morgan, said.

Published on June 03, 2020
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