India’s largest state-owned lender, State Bank of India, has introduced CHAKRA, a Centre of Excellence aimed at financing sunrise sectors crucial to India’s economic development. CHAKRA will function as a knowledge-led platform to facilitate funding for next-generation, technology-driven, and sustainability-focused industries. The center will specifically target eight sunrise sectors, including renewable energy, advanced cell chemistry, electric mobility, and smart infrastructure, among others. These sectors are projected to require investments exceeding Rs 100 lakh crore by 2030.
SBI’s focus with CHAKRA is to channel funds responsibly into these capital-intensive sectors, enhance risk assessment mechanisms, and create innovative financing models. Challa Sreenivasulu Setty, Chairman of SBI, emphasized the importance of innovation, sustainability, and advanced manufacturing in India’s future growth. The establishment of the Centre of Excellence underscores SBI’s commitment to new-age technologies and climate finance, aiming to bolster India’s participation in the global value chain.
The vision of CHAKRA as an integrated ecosystem platform encompassing knowledge-sharing, project evaluation, capacity building, and evidence-based policy engagement is expected to expedite India’s progress towards Viksit Bharat 2047. M Nagaraju, Secretary of the Department of Financial Services, highlighted the significance of this initiative. CHAKRA will produce various resources such as white papers, sector reports, and industry dialogues to support informed decision-making for clients, investors, and policymakers.
State Bank of India’s CHAKRA will facilitate strategic collaborations with development finance institutions, multilateral agencies, industry bodies, and academia to enhance the flow of capital into sectors driving India’s sustainable and technology-driven future. Through this initiative, SBI aims to enhance its capabilities, support innovation-focused enterprises, and contribute to the growth of sectors crucial for India’s sustainable development.
