To support the “sunrise sectors” vital to India’s economic growth, the State Bank of India (SBI) established the “CHAKRA” Centre of Excellence.
Energy from renewable sources, advanced cell chemistry, electric mobility, green hydrogen, semiconductors, smart infrastructure, data centres, and decarbonisation will be the eight main areas of emphasis at the centre.
More than Rs 100 lakh crore will need to be invested in these areas by the year 2030. By expanding SBI’s position in climate finance and integration into the global value chain, CHAKRA will allow knowledge-sharing, policy involvement, and creative financing solutions.
Innovation and sustainability, according to Chairman Challa Sreenivasulu Setty, are crucial to India’s economic development in the years to come.
