Hon'ble Chief Minister Shri Revanth Reddy Garu Launches BFSI Skill Development Program and EQUIPPP Skill Portal

In a landmark initiative to bolster employment opportunities in the BFSI sector, Hon'ble Chief Minister of Telangana, Shri Revanth Reddy Garu, officially launched the BFSI Skill Development Program as a minor degree in Telangana's colleges, along with the unveiling of the EQUIPPP Skill Portal for outcome tracking. The event, held at JNAFAU Auditorium in Masab Tank, witnessed the presence of senior government officials, industry leaders, and academic representatives.

The BFSI Skill Development Program, designed by the industry for the industry, aims to address the pressing skill gaps in the Banking, Financial Services, and Insurance (BFSI) Global Capacity Centers (GCCs). With companies like HSBC, JP Morgan, State Street, and others expanding their operations in Hyderabad, there is an urgent need for skilled talent to meet the growing demand.

The Hon'ble Chief Minister, during his address, reiterated the government's commitment to fostering industry-ready talent and positioning Telangana as a premier hub for BFSI jobs. He emphasized that the program is set to benefit a minimum of 10,000 students across engineering and non-engineering disciplines for the coming three years each, ensuring that Telangana's youth is equipped with the necessary skills to thrive in the BFSI sector.

EQUIPPP Skill Portal: A Game Changer in Outcome Tracking

As a key highlight of the event, the EQUIPPP Skill Portal, developed by EQUIPPP's technology arm 3.0 Labs, was launched to track and monitor the progress of the program. The portal will provide real-time data on student performance, periodic assessments, and placement outcomes. This initiative ensures transparency and accountability while enabling government officials, CSR sponsors, and other stakeholders to assess the success of the program at every stage.

Shri Revanth Reddy Garu, while launching the portal, stated that the EQUIPPP Skill Portal can play a crucial enabling role in Government and CSR collaboration by demonstrating transparency at every stage of the program and creating maximum social return on investment. Telangana Government hopes to leverage such technology portals to attract impact investments and CSR participation for other initiatives like Skill University and Future City.

Hon'ble IT Minister, Shri Sridhar Babu Garu, highlighted the government's proactive stance in addressing the long-standing issues of high attrition and lack of skilled candidates, which affect the sustainability and financial health of BFSI GCCs in India. He expressed optimism about unique models such as Outcome-Based Funding and P4 partnerships, hoping to leverage them for Telangana's growth story.

EQUIPPP, through its asset management arm DESI (District Economic and Socio Infrastructure Fund), will support the program for the next three years, leveraging an innovative outcome-based revolving fund. The event saw the presentation of a Rs 2.5 crore Demand Draft by DESI as the first tranche to the BFSI Consortium in the revolving fund as an outcome based impact investor.

Shares of Equippp Social Impact Technologies Ltd was last trading in BSE at Rs. 22.94 as compared to the previous close of Rs. 22.90. The total number of shares traded during the day was 2676 in over 15 trades.

The stock hit an intraday high of Rs. 22.94 and intraday low of 22.13. The net turnover during the day was Rs. 60761.00.

Source : Equity Bulls

Keywords

EquipppSocialImpactTechnologies BFSISkillDevelopmentProgram EQUIPPPSkillPortal