JP Morgan sets aside ₹17 crore to upskill 4,800 Indian graduates for banking jobs

• Global investment banking firm JP Morgan will invest ₹17 crore ($2.25 million) to impart skill training to over 4,800 graduates in India.
  
• This is in partnership with the Shahani Academic & Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training.
  
• Under the initiative, the foundation will impart domain skills and communication, sales and problem solving skills via online and classroom courses.
  
• This includes upskilling in the advanced technology and innovative concepts to enable the underprivileged youth to get entry-level jobs.

Global investment banking firm JP Morgan will invest as much as ₹17 crore ($2.25 million) to impart skill training to over 4,800 graduates in India.

This is in partnership with the Shahani Academic & Global Empowerment (SAGE) Foundation, a non-profit trust focused on skills training.

This includes upskilling in the advanced technology and innovative concepts to enable the underprivileged youth to get entry-level jobs in the Banking and Financial Services (BFSI) sector.

“Businesses across sectors are facing challenges in employing skilled talent. This program will help bridge the gap between employee skills and employer needs. We look forward to high-yielding results,” said Maneesha Chadha, Head of Philanthropy for J.P. Morgan, India.

The grant announcement comes at a time when it is alleged that the JP Morgan India unit helped a local company divert funds, thereby violating foreign investment rules. The Supreme Court has now permitted the Enforcement Directorate (ED) to attach the company’s properties worth ₹187 crore in this case.

This is the second grant that SAGE Foundation has received from J.P. Morgan. Under the initiative, the foundation will stress on domain skills and communication, sales and problem solving skills via online and classroom courses.

The BFSI sector is aggressively investing in technology and the digitalization of its products and services. Hence, the skill training in the domain will help graduates find jobs in the banking sector.

“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,” said Akhil Shahani, MD, Shahani Group.

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