Hyderabad-Based Life Circle Receives the DBS Foundation Impact Beyond Award for Advancing Eldercare in India
India – Business Wire India Receives grant funding of SGD 500,000 (~INR 3 crore); plans to scale tech-enabled eldercare and expand into high-demand Tier 2 and 3 cities
The enterprise was among four winners collectively awarded SGD 3 million (~INR 20 crore); the awards recognised innovators shaping the future of ageing.
Life Circle Health Services, a Hyderabad-based social enterprise, has been named one of four global winners of the DBS Foundation Impact Beyond Award 2024. Launched last year, the award aims to supercharge impactful businesses that are addressing urgent needs in ageing societies.
(From left to right) Claire Wong, Lead (Business for Impact), DBS Foundation; Anant Kumar, CEO of Life Circle Health Services; Dr. Fidah, Vice Chairman, Healthcare & Life Sciences (Global Partnerships), Temasek International; Chen Ze Ling, DBS Group Head of Corporate and SME Banking; and Nie Jianming, Chairman of Huakang Health Group, discuss the role of private-public-people collaborations in scaling social impact.
As part of the recognition, Life Circle will receive SGD 500,000 (~INR 3 crore) in grant funding, along with access to DBS Foundation's broader ecosystem of support — including expert mentorship, capacity building, and partnership/networking opportunities. It is one of four enterprises collectively awarded SGD 3 million (~INR 20 crore) by DBS Foundation. In addition to the funding, winners receive ongoing support from the bank to drive their next phase of growth, including new product development, operational scaling, and capacity building.
The DBS Foundation Impact Beyond Award builds on the DBS Foundation's longstanding efforts to nurture innovative, purpose-driven businesses that create positive societal impact. It also underscores the Foundation's commitment to uplifting the lives and livelihoods of vulnerable communities across Asia and shaping a more inclusive future.
With demographic changes such as ageing populations affecting many parts of the world today, DBS Foundation is committed to empowering seniors to age well — with dignity and joy — ensuring they remain healthy, connected, and able to contribute meaningfully to society. According to the India Ageing Report 2023 by UNFPA, India's elderly population is projected to exceed approximately 20% by 2050. As this demographic shift accelerates, the need for affordable, accessible, and professional eldercare services is becoming increasingly urgent.
Life Circle is addressing this gap through a tech-enabled marketplace that connects trained caregivers with families based on individual health and personal care needs. It is India's only full-stack eldercare company, combining training, certification, placement, and managed home care under one brand. Life Circle's hybrid (phygital) model — which includes a mobile app, caregiver training, and quality checks — helps improve the overall quality of home-based eldercare in India. With this award, it will expand to Tier 2 and 3 cities that are seeing heightened demand, launch new training academies, roll out digital learning tools, and upgrade its technology to better manage onboarding and quality assurance for caregivers.
Karen Ngui, Head of DBS Foundation and DBS Group Strategic Marketing and Communications, said, 'Societies are ageing rapidly, and it is sobering to see that we're living in a world where there are more people over 60 years of age than under five. We are thus very encouraged to see DBS Foundation's inaugural batch of Impact Beyond Award winners embedding purpose at the core of their business and delivering transformative solutions to meet the urgent needs of ageing societies. In India, a large part of eldercare is delivered by the informal sector — Life Circle is addressing this critical gap by making eldercare more professional, structured, and accessible, while also creating dignified livelihoods through caregiver training. By supporting enterprises like our Impact Beyond Award winners, we aim to build a future where every individual, at every stage of life, can age with dignity, purpose, and joy.'
Anant Kumar, CEO, Life Circle Health Services (India),said, 'We are deeply honoured to receive the DBS Foundation Impact Beyond Award. This recognition strengthens our mission to build India's eldercare infrastructure — one caregiver at a time. With DBS Foundation's support, we will accelerate our efforts to train youth from underserved communities and ensure seniors receive the dignified care they deserve.'
Life Circle's model not only supports ageing in place but also promotes economic empowerment by skilling and employing rural women as professional caregivers. To date, the enterprise has placed over 5,000 caregivers — 76% of whom are women — and conducts more than 100,000 home visits annually.
Life Circle was selected from nearly 100 submissions, following a rigorous evaluation process involving senior DBS leaders and independent external experts. The other winners of the 2024 Impact Beyond Award include:
Buddy of Parents (Singapore): AI and IoT-powered smart home solutions that enhance safety, reduce the caregiving burden, and promote independent living.
AI and IoT-powered smart home solutions that enhance safety, reduce the caregiving burden, and promote independent living. Huakang Group (China): A leading provider of integrated elderly care, offering a holistic 'home, community, institution' model that connects home-based services with community and institutional support.
A leading provider of integrated elderly care, offering a holistic 'home, community, institution' model that connects home-based services with community and institutional support. Evercare (Hong Kong):A healthtech platform bridging caregiver demand gaps by connecting healthcare professionals with families, hospitals, and private eldercare services.
The awards were announced at the recent DBS Foundation Impact Beyond Dialogue in Singapore — a flagship platform that brings together key voices to exchange insights on pressing societal issues such as ageing, co-create solutions, and unlock opportunities for collective action.
For more information on the DBS Foundation Impact Beyond Award, please visit: https://www.dbs.com/foundation/impact-beyond-award-winners.html
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. In 2025, CRISIL Ratings reaffirmed its 'CRISIL AAA/Stable' rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at 'CRISIL A1+'.
Recognised for its global leadership, DBS has been named 'World's Best Bank' by Global Finance, 'World's Best Bank' by Euromoney and 'Global Bank of the Year' by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named 'World's Best Digital Bank' by Euromoney and the world's 'Most Innovative in Digital Banking' by The Banker. In addition, DBS has been accorded the 'Safest Bank in Asia' award by Global Finance for 16 consecutive years from 2009 to 2024. In 2025, DBS Bank India was recognised as the Best Bank for Corporate Banking and Best Bank for Corporate Cash Management in India by CRISIL - Coalition Greenwich. Reinforcing its commitment to responsible banking and business practices, DBS was also named Best Bank for Sustainable Finance – India by Global Finance in 2024 and Best Bank for Diversity & Inclusion – India by Euromoney in 2024.
DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them 'Live more, Bank less'. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India is now present in ~350 locations in 19 Indian states.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About DBS Foundation
Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.
In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.
Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes
beyond banking, beyond borders, and beyond generations.
For more information, please visit: www.dbs.com/dbsfoundation
Media Contact Details
Rohini Rego, DBS Bank India, rohinirego@dbs.com, +91-9930549207
Kashni Kadakia, Adfactors PR, kashni.kadakia@adfactorspr.com, +91-9820562269
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