New Delhi [India], September 27: Celebrating a decade of impact, the DBS Foundation has launched the inaugural Impact Beyond Award to support enterprises that offer innovative solutions to the world’s most pressing challenges. Each year, the Award will present a challenge statement, inviting businesses to pitch transformative ideas. This year’s focus is on aging, with the Foundation seeking solutions that help individuals grow older with dignity and purpose.
According to the 2023 India Ageing Report from the United Nations Population Fund (UNFPA), the elderly demographic (60 years and older) in India is expected to double, surpassing 20% of the total population by 2050. While this presents societal challenges, the DBS Foundation views it as an opportunity to shift traditional mindsets and promote ‘longevity businesses.’
The Award is part of DBS’s SGD 1 billion commitment over ten years to uplift vulnerable communities and complements the longstanding DBS Foundation Grant. Each of the three awardees will receive up to SGD 1 million in prize money, along with mentorship from the bank’s senior management and access to potential investors. The program is open to social enterprises and small- to medium-sized enterprises (SMEs) with a minimum annual revenue of SGD 5 million. Applications are welcome globally from September 20 to November 30, 2024.
Azmat Habibulla, Managing Director and Head of Group Strategic Marketing & Communications at DBS Bank India, remarked, “The introduction of the Impact Beyond Award represents a significant milestone in DBS Foundation’s ten-year journey. This year’s focus on issues related to an aging society underscores our commitment to empowering vulnerable populations. As the complexities of an aging demographic in India continue to grow, we believe this award will catalyze the development of purpose-driven solutions in healthcare, social support, and financial inclusion to enhance the quality of life for senior citizens.”
Approaching its 30th year in India, DBS Bank recently introduced a priority banking program for senior citizens called ‘DBS Golden Circle,’ designed to simplify and enrich banking for Indian residents aged 60 and above. In 2020, the DBS Foundation awarded a grant to ElderAid Wellness, a Business For Impact that offers home-based health and wellness services to support the elderly, enabling them to live independently and with dignity.
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 strategically positioned in key growth regions: Greater China, Southeast Asia, and South Asia. The bank holds high credit ratings, including “AA-” and “Aa1,” and was reaffirmed as ‘CRISIL AAA/Stable’ in 2024.
Recognized for its global leadership, DBS has received numerous accolades, including “World’s Best Bank” by Global Finance and Euromoney, and “Global Bank of the Year” by The Banker. Emphasizing digital innovation, DBS has also been named “World’s Best Digital Bank” and recognized as the “Safest Bank in Asia” for 15 consecutive years from 2009 to 2023. Committed to responsible banking, DBS was awarded the title of Best Bank for Sustainable Finance – India in 2024.
With a focus on building lasting customer relationships, DBS offers a wide range of services for businesses and individuals while ensuring a seamless banking experience. The bank has been operating in India since 1994, currently boasting around 500 branches across 19 states.
For more information, please visit www.dbs.com.
Media Contacts:
DBS Bank India
Rohini Rego
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+91 99305 49207
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Chennakeshav Shenoy
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