Mumbai, Jan 31 || India's largest state-owned lender, State Bank of India, on Saturday announced the launch of CHAKRA -- a Centre of Excellence for financing sunrise sectors critical to India’s economic transformation.
It will serve as a knowledge‑led platform to enable financing for next‑generation, technology‑driven and sustainability‑focused sectors.
The centre will focus on eight sunrise sectors including renewable energy, advanced cell chemistry and battery storage, electric mobility, green hydrogen, semiconductors, decarbonisation, smart infrastructure and data centre infrastructure, a statement said.
By 2030, these sunrise sectors are expected to entail capital investment of over Rs 100 lakh crore, it added.
The bank focuses on enabling these capital-intensive sectors by directing capital flows responsibly, strengthening risk assessment and developing innovative financing structures.
“India’s growth over the coming decades will be anchored in innovation, sustainability and advanced manufacturing. With CHAKRA, SBI is strengthening its institutional capability to understand emerging sectors, design specialised financing solutions and partner with the ecosystem,” said Challa Sreenivasulu Setty, Chairman, SBI.