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State Bank of IndiaIndia
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Created before Nov 2016
Last update: 2022-03-01 13:27:41

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State Bank of India's head office in Mumbai, India. Photo: Digamber via Wikimedia Commons (CC BY SA 1.0)

About State Bank of 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.

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
Annual report Annual report 2020-2021
Ownership
listed on Bombay Stock Exchange, London Stock Exchange & National Stock Exchange of India

State Bank of India is majority-owned by the Indian State.

Subsidiaries
Axis Bank UK Ltd. – United Kingdom
Axis Capital Ltd. – India
Complaints and grievances

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

Related Dodgy Deals

State Bank Of India has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Dodgy Deals map

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Companies
Targets
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Active profiles
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On record profiles

Policy Assessments

Banks and Climate

Bank net zero commitments

BankLast update
Country
Target 2025
Target 2030
Net zero 2050
SBT
NZBA
CCCA
Details
State Bank of India
2021-03-24
IND
0
India
Profile
Target 2025
0
Target 2030
Net zero 2050
SBT
NZBA
CCCA
20210324
Last update: 2021-03-24
Explanation

Goal 2025/2030: None

Goal 2050: None

Explanation

This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.

  • A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
  • An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.

Abbreviations:

CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets

For more details see this page.

Banks and Human Rights

Human Rights Benchmark November 2019

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

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0
India
Score
Laggard
1
Explanation

State Bank of India's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. 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

Explanation
Laggard
Follower
Front runner
Leader
0 - 3.5 points
4 - 5.5 points
6 - 8.5 points
9 - 14 points
For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

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
external news
our news

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
blog
external news
our news

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
external news
our news

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
blog
external news
our news

Big banks lead SBI bond despite Adani controversy

2021-01-06 | Global Capital
blog
external news
our news

BlackRock, Storebrand pressure Indian bank over coal mining loan

2020-12-04 | Bloomberg
blog
external news
our news

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
external news
our news

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
external news
our news

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

2019-09-19 | Environmental Paper Network
blog
external news
our news

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

2019-06-25 | Nijmegen | BankTrack
blog
external news
our news

The quiet death of the SBI-Adani loan agreement

2015-04-20 | LiveMint
blog
external news
our news

Activists Gun For Indian Billionaire's Great Barrier Reef Project

2014-12-02 | Forbes
blog
external news
our news

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

2014-11-27 | Hindustan Times

Documents

Type:
Year:
our publications
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
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald
annual reports
2022-03-01 00:00:00

Annual report 2020-2021

2022-03-01 00:00:00 | State Bank of India
csr policies
2021-04-30 00:00:00

Policy on corporate social responsibility

2021-04-30 00:00:00 | State Bank of India
our publications
2021-03-24 00:00:00

Banking on Climate Chaos 2021

Fossil Fuel Finance Report
2021-03-24 00:00:00 | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club
annual reports
2020-07-31 00:00:00

Annual report 2019-2020

2020-07-31 00:00:00 | State Bank of India
annual reports
2020-04-30 00:00:00

Sustainability Report 2019 - 2020

2020-04-30 00:00:00 | State Bank of India
annual reports
2019-05-10 00:00:00

Annual report 2018-2019

2019-05-10 00:00:00 | State Bank of India
annual reports
2019-04-01 00:00:00

Sustainability report 2018-2019

2019-04-01 00:00:00 | State Bank of India
csr policies
2019-01-24 00:00:00

Sustainability and business responsibility policy

2019-01-24 00:00:00 | State Bank of India
csr policies
2019-01-24 00:00:00

Code of conduct

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

Sustainability report 2017-2018

2018-06-30 00:00:00 | State Bank of India
bank documents
2015-04-02 00:00:00

Business Responsibility Report 2012-2013

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

Annual results FY 2012-2013

2013-05-23 00:00:00 | State Bank of India
annual reports
2012-05-25 00:00:00

Annual results FY 2011-2012

2012-05-25 00:00:00 | State Bank of India
annual reports
2011-05-25 00:00:00

Annual results FY 2010-2011

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

Links

Fair Finance Guide India

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

https://fairfinanceindia.org/bank-guide/home/

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

https://www.marketforces.org.au/SBI/

State Bank of India CSR page

https://www.sbi.co.in/web/corporate-governance/information

Adani's big coal problem

Resource by StopAdani about the Adani Group's plans to expand its coal operations. The Adani Group wants to rebrand itself as a leader on climate change and clean energy in order to access more funds from global banks for its growing empire. But there’s a big problem - Adani are mining, handling, and burning record volumes of coal - the number one driver of the climate crisis. To make matters worse, Adani plans to expand its coal operations, not reduce them.

Adani’s rapid coal expansion is being funded by the world’s biggest financial institutions, including Blackrock, JP Morgan Chase, TIAA, MUFG, the State Bank of India, and HSBC.

https://www.stopadani.com/adanis_big_coal_problem

Policies

Voluntary standards

State Bank of India has committed itself to the following voluntary standards:
  • Carbon Disclosure Project
  • Global Reporting Initiative

Investment policies

State Bank of India's web page on corporate social responsibility can be accessed here.

Year:
csr policies
2021-04-30 00:00:00

Policy on corporate social responsibility

2021-04-30 00:00:00 | State Bank of India
csr policies
2019-01-24 00:00:00

Sustainability and business responsibility policy

2019-01-24 00:00:00 | State Bank of India
csr policies
2019-01-24 00:00:00

Code of conduct

2019-01-24 00:00:00 | State Bank of India

Good moves

Year:
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