NSDC Begins Earnings Through Dividend: Charting A New Phase Of Growth
NSDC receives its first dividend from IL&FS Skills Development Corporation (ISDC), its joint venture
5 Dariya News
New Delhi 13-Jul-2017
Charting a new phase of growth, National Skills Development Corporation (NSDC) earns its maiden dividend of Rs. 48.76 lakhs from its training partner IL&FS Skills Development Corporation (ISDC).NSDC holds 19.99% stake in ISDC, a joint venture between the IL&FS Education and NSDC, which was formed in the year 2011. ISDC is amongst the first few training partners funded by NSDC. In FY-2017, ISDCs declared a dividend of 5% of the paid-up share capital. During a NSDC board meeting organized in New Delhi on 11th July 2017, a cheque of Rs. 48.76 lacs was presented by Mr. RCM Reddy, MD & CEO, ISDC to Mr Manish Kumar, MD & CEO, NSDC in the presence of NSDC Board Members. NSDC being a not-for-profit organization, will re-invest this money into National Skill Development Fund (NSDF) for strengthening the skill ecosystem.Commenting on the development, Manish Kumar, MD&CEO, NSDC said, “I congratulate the team from ISDC and applaud their pioneering efforts in space of skill development. Skilling is a national priority and can be achieved through a collaborative efforts of Industry, Government, Academia and others. It is encouraging to note that the skilling ecosystem is maturing and the partners are adding value both in terms of social impact and financial dividend to the ecosystem.”
About NSDC
NSDC, a unique Public Private Partnership (PPP) working under the aegis of Ministry of Skill Development and Entrepreneurship (MSDE), aims to promote skill development by catalyzing creation of large, quality and for-profit vocational training institutes. Till date NSDC has trained more than 1.15 crore people through 330+ training partners and 40 Sector Skill Councils, covering 600+ districts across the country.
About ISDC
ISDC offers a bouquet of services, which addresses the manpower demand-supply gap and caters to the training needs of school drop-outs, X/XII grade pass-outs, ITI students/pass outs, college graduates (including engineering graduates) and various other learner groups. The company has been growing consistently over the past 3-4 years and offers standardized and employment oriented training to approx. 1.5 lacs candidates per annum across 20+ sectors pan India. The learner centric approach ensures a strong foundation of skills for employability and smooth transition from classroom to workplace.