Sridhar Babu ropes in EQUIPPP to support government’s BFSI training programme

The company will spend ₹2.5 crore to train 10,000 students every year

As the government launches its skill development programmes related to employment generation, Industries and Information Technology (IT) Minister D. Sridhar Babu has convinced EQUIPPP, a technology service provider to fund 10,000 students each year for three years by setting up an outcome-based revolving fund.

EQUIPPP’s asset management arm, DESI (District Economic and Socio Infrastructure Fund), is funding the government’s programme to train engineering and non-engineering students for jobs in the Banking Financial Services & Insurance (BFSI) sector.

The company has assured Mr. Sridhar Babu to support the programme as risk investor spending ₹2.5 crore. The cheque would be presented to the BFSI Consortium in the presence of Chief Minister A. Revanth Reddy and Mr. Sridhar Babu when they launch the programme at the JNTU Hyderabad on Wednesday.

As the programme succeeds and students are placed in the BFSI sector, this revolving fund will attract support from CSR initiatives, non-profits and philanthropists and take the programme into autopilot mode, according to the Minister.

As a key enabler for this programme’s success, EQUIPPP’s Technology arm 3.0 Labs is developing a tracking portal to assess and monitor the programme. Three level assessments, reviews and interviews of students will be conducted and the portal will be shared with CSRs and government officials.

Published - September 24, 2024 08:42 pm IST