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State Bank of IndiaIndia

Active

This profile is actively maintained
Last update: 2023-03-03 10:47:44
State Bank of India's head office in Mumbai, India. Photo: Digamber via Wikimedia Commons (CC BY SA 1.0)

Active

This profile is actively maintained
Last update: 2023-03-03 10:47:44
About
Website https://sbi.co.in/
Headquarters
Central Office, 8th Fl., Madame Cama Road 400 021
Mumbai
India
CEO/chair Dinesh Kumar Khara
Managing Director
Supervisor
Ownership
listed on Bombay Stock Exchange, London Stock Exchange & National Stock Exchange of India

State Bank of India is majority-owned (56.9%) by the Indian State.

Subsidiaries
Axis Bank UK Ltd. – United Kingdom
Axis Capital Ltd. – India

The State Bank of India is the largest bank of India. The bank was founded in 1806 as the Bank of Calcutta, making it the oldest commercial bank on 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.

Sustainability
Commitments
Policies
Voluntary standards

State Bank of India's most important sustainability commitments can be found at the website sections listed below.

Links

CSR and sustainability

2022-10-12 00:00:00

Climate Change Risk Management Policy

Bank policy
2022-10-12 00:00:00 | State Bank of India
2022-08-24 00:00:00

Sustainability and Business Responsibility Policy

Bank policy
2022-08-24 00:00:00 | State Bank of India
2022-06-30 00:00:00

Policy on corporate social responsibility

Bank policy
2022-06-30 00:00:00 | State Bank of India
2019-01-24 00:00:00

Code of conduct

Bank policy
2019-01-24 00:00:00 | State Bank of India
State Bank of India has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Global Reporting InitiativeTags: sustainable development | human rights
Dodgy Deals

State Bank Of India is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of State Bank Of India's link to these deals.

Campaigns

Banks and Climate

The 2022 Banking on Climate Chaos report showed that State Bank of India provided US$ 26.37 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on State Bank of India fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

 

Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of State Bank of India fossil fuel policy below.

 


Banks and Human Rights

BankTrack assessed State Bank of India in its 2022 Global Human Rights Benchmark, where it achieved 1 points out of 14 and was ranked as a laggard. More information is detailed in the "Accountability" section of this profile.

Global Human Rights Benchmark 2022

BankLast update
Country
Score
Ranking
Details
State Bank of India
IND
1
Laggard
0
India
Score
Laggard
1
Explanation

State Bank of India's human rights policies, processes and reporting were assessed as part of the BankTrack Global Human Rights Benchmark 2022. The bank is assessed as a Laggard, with a total score of 1 out of 14.

Policy: 0/3
Due dilligence: 0/5
Reporting: 1/3
Remedy: 0/3


Response Tracking:
The bank was also assessed on its responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations, for which it received an average score of n/a/3. See the Response Tracking section of this profile for more details.

Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.

Banks and Nature

Forest & Finance Policy Assessment 2022: Overall scores

BankLast update
Country
Score
Ranking
Details
State Bank of India
2022-09-27
IND
0.2
Laggard
0
India
Profile
Score
Laggard
0.2
20220927
Last update: 2022-09-27
Explanation

The policy assessment covers the main forest-risk commodity sectors (Beef, Palm Oil, Soy, Timber, Pulp and Paper, and Rubber). Weighted scores are based on the scope of State Bank of India' relevant policies, taking into account different types of financing and the sectors in which the bank is active. Details about the scores per sector policy can be found on State Bank of India' profile

Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Beef

BankLast update
Country
Score
Ranking
Details
State Bank of India
2022-09-29
IND
0
Laggard
0
India
Profile
Score
Laggard
0
20220929
Last update: 2022-09-29
Explanation

The policy assessment covers the bank's policies related to beef. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the beef industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on State Bank of India' profile

Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Palm Oil

BankLast update
Country
Score
Ranking
Details
State Bank of India
2022-09-29
IND
0.2
Laggard
0
India
Profile
Score
Laggard
0.2
20220929
Last update: 2022-09-29
Explanation

The policy assessment covers the bank's policies related to palm oil. Weighted scores are based on the scope of ABN AMRO's relevant policies, taking into account what types and how much finance the bank provides to companies active in the palm oil industry. Details of the criteria used to assess the policies and scores for other forest-risk commodity sectors can be found on State Bank of India' profile

Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Banks and Putin's war in Ukraine

BankTrack is keeping track of the public response of the State Bank of India to Russia's illegal invasion of Ukraine. State Bank of India did not publicly condemn the war. State Bank of India is considered by Leave-Russia.org to be "continue operations" with its operations in Russia. We consider its exposure to Russia as limited, with over $10m of financial assets. For further details, see the table linked below.

News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy

BankTrack’s 2022 Global Human Rights Benchmark finds reporting at a standstill, remedy still lacking and no clear leaders
2022-11-17 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Santos announces refinancing of syndicated debt facilities

Santos announced it had executed documentation to amend and extend its two syndicated bank loan facilities totalling US$1.25 billion.
2022-08-30 | Santos
Blog
BankTrack news BankTrack blog Partner news Partner blog

Mapping Garment Industry Funding in India

2022-04-06 | Fair Finance Asia, Fair Finance India
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Top Indian bank drags its feet on billionaire Adani coal loan

Two senior State Bank of India executives, who asked not to be identified, said the bank was dragging its feet on extending part of a funding line of as much as $1 billion to Adani Enterprises Ltd., which plans to use the money for the controversial Carmichael mine.
2021-04-09 | Energy World
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

Big banks lead SBI bond despite Adani controversy

2021-01-06 | Global Capital
BankTrack news BankTrack blog Partner news Partner blog

BlackRock, Storebrand pressure Indian bank over coal mining loan

2020-12-04 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

State Bank of India set to offer Rs 5000 cr loan to Carmichael coal project in Australia

2020-11-17 | New Delhi | Business Standard
Blog
BankTrack news BankTrack blog Partner news Partner blog

4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows

Lloyds, Bank of America, Goldman Sachs and Société Générale among the poorest performers in BankTrack ranking, alongside Canadian and Chinese banks
2019-11-26 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Massive forest fires and haze in Indonesia create public health and climate crisis

2019-09-19 | Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

2019-06-25 | Nijmegen | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

The quiet death of the SBI-Adani loan agreement

2015-04-20 | LiveMint
BankTrack news BankTrack blog Partner news Partner blog

Activists Gun For Indian Billionaire's Great Barrier Reef Project

2014-12-02 | Forbes
BankTrack news BankTrack blog Partner news Partner blog

Trinamool slams SBI's $1-bn loan to Adani group

2014-11-27 | Hindustan Times
Resources
Documents
Links
2023-01-27 00:00:00

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

BankTrack publication
2023-01-27 00:00:00 | Profundo for Sierra Club, Fair Finance International, BankTrack, Rainforest Action Network
2022-11-17 00:00:00

BankTrack Global Human Rights Benchmark 2022

BankTrack publication
2022-11-17 00:00:00 | BankTrack
2022-11-15 00:00:00

Who is financing fossil fuel expansion in Africa?

BankTrack publication
2022-11-15 00:00:00 | Urgewald, BankTrack, 350.org Africa, Africa Coal Network & Oilwatch Africa, et al.
2022-10-12 00:00:00

Climate Change Risk Management Policy

Bank policy
2022-10-12 00:00:00 | State Bank of India
2022-08-24 00:00:00

Sustainability and Business Responsibility Policy

Bank policy
2022-08-24 00:00:00 | State Bank of India
2022-06-30 00:00:00

Policy on corporate social responsibility

Bank policy
2022-06-30 00:00:00 | State Bank of India
2022-03-30 00:00:00

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
BankTrack publication
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald
2022-03-01 00:00:00

Annual report 2020-2021

Annual report
2022-03-01 00:00:00 | State Bank of India
2020-07-31 00:00:00

Annual report 2019-2020

Annual report
2020-07-31 00:00:00 | State Bank of India
2020-04-30 00:00:00

Sustainability Report 2019 - 2020

Annual report
2020-04-30 00:00:00 | State Bank of India
2019-05-10 00:00:00

Annual report 2018-2019

Annual report
2019-05-10 00:00:00 | State Bank of India
2019-04-01 00:00:00

Sustainability report 2018-2019

Annual report
2019-04-01 00:00:00 | State Bank of India
2019-01-24 00:00:00

Code of conduct

Bank policy
2019-01-24 00:00:00 | State Bank of India
2018-06-30 00:00:00

Sustainability report 2017-2018

Annual report
2018-06-30 00:00:00 | State Bank of India
2015-04-02 00:00:00

Business Responsibility Report 2012-2013

Bank document
2015-04-02 00:00:00 | State Bank of India
2013-05-23 00:00:00

Annual results FY 2012-2013

Annual report
2013-05-23 00:00:00 | State Bank of India
2012-05-25 00:00:00

Annual results FY 2011-2012

Annual report
2012-05-25 00:00:00 | State Bank of India
2011-05-25 00:00:00

Annual results FY 2010-2011

Annual report
2011-05-25 00:00:00 | State Bank of India

Fair Finance Guide India

Assesses how responsible Indian banks are with respect to the Environmental, Social and Governance (ESG) criteria.

Take action: State Bank of India is considering throwing away $1b of Indian taxpayers’ money on Adani’s Australian coal project

State Bank of India CSR page

Accountability
Grievances

State Bank of India does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. 

This page evaluates State Bank of India's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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