State Bank of India (SBI) is the largest bank of India.
The bank was founded in 1806 as the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. The Government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India
taking a 60% stake, and renamed it the State Bank of India. In 2008,
the Government took over the stake held by the Reserve Bank of India.
ownership
listed on Bombay Stock Exchange, London Stock Exchange, National Stock Exchange of India
headquarters
Central Office, 8th Fl., Madame Cama Road
400 021 Mumbai
India
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
The Grasberg mine, located in the indonesian province of Papua, on the island New Guinea, just north of Australia, is being run by the mining company Freeport McMoran. The…
Sesa Goa is the largest iron ore producer and exporter of Goa. Since 2007 Vedanta Resources is the majority shareholder of Sesa Goa. Sesa Goa's main mining operations are…
BankTrack has identified controversial issues
with the companies listed below that require attention from State Bank of India.
National Thermal Power Corporation (NTPC)
National Thermal Power Corporation (NTPC) are the largest electricity producer in India. Their total installed capacity, including that under joint ventures, is close to…
India's National Hydroelectric Power Corporation has made a name for itself as one of the country's most ruthless corporations. As a state-owned company, NHPC has been able…
Vedanta Resources is a mining company. It produces aluminum, copper, lead and zinc. Vedanta has a strong position in India, where its founder Anil Agarwal was born, but is…
