On the occasion of its 70th anniversary, the State Bank of India (SBI) launched a Solar Rooftop Programme with a target to solarize 4 million households by FY2027. This aligns with India’s commitment to achieve Net Zero carbon emissions by 2070.
SBI’s Solar Rooftop Programme
- Target: 4 million Indian homes by FY2027.
- Objective: To promote clean energy, reduce carbon footprint, and support India’s Net Zero 2070 goals.
- Aimed at expanding access to affordable solar energy across the country, especially in rural and semi-urban areas.
Centre of Excellence (CoE)
- SBI also plans to establish a Centre of Excellence for project finance.
- Focus sectors: E-mobility, Renewable energy, Smart infrastructure, Green hydrogen, Semiconductors, Data centres and Decarbonisation
- Vision: To function as an “asset of national importance”, promoting sustainable infrastructure financing in emerging sectors.
SBI’s Commitment to Rural Growth
- Agriculture Lending FY25: ₹3.5 lakh crore (highest in the country).
- Support provided to:
- Farm infrastructure
- Agri-enterprises
- FPOs (Farmer Producer Organisations)
- Cooperatives
- Objective: Sustainable rural development and income generation.
CSR and Social Impact
- CSR Expenditure (FY25): ₹610.8 crore across 94 aspirational districts.
- Key initiatives:
- Healthcare, education, environmental sustainability.
- Planted 9 lakh trees in the Cauvery river basin.
- Welfare support to persons with disabilities and underprivileged students.
SBI’s 70-Year Legacy (1955–2025)
Key Milestones:
- Origin: Transitioned from the Imperial Bank of India to State Bank of India in 1955 (nationalised).
- Largest public sector bank in India.
- Instrumental in advancing financial inclusion, rural banking, and social banking.
Current Scale (as of Oct 2024):
- Assets: ₹61 trillion+
- Customers: 52 crore+
- Branches: 22,500+
- ATMs/ADWMs: 63,580+
- Business Correspondent outlets: 82,900+
- Global presence: 241 offices in 29 countries
Financial Performance FY25:
- Standalone net profit: ₹70,901 crore (16% YoY growth)
- Operating profit: ₹1,10,579 crore (17.89% YoY increase) – first time crossing ₹1 lakh crore