SBI's CHAKRA facility to finance 8 sunrise sectors, Pg11

Key Highlights:

• State Bank of India (SBI) launched CHAKRA, a Centre of Excellence, to finance eight sunrise sectors.
• The focus sectors include renewable energy and advanced cell chemistry & battery storage.
• These sectors are projected to attract Rs 100 lakh crore in capital investment over five years.
• SBI has signed MOUs with approximately 21 financing institutions for capacity building and co-financing.

Detailed Insights:

• CHAKRA aims to enhance SBI's ability to understand emerging sectors and create specialized financing solutions.
• The initiative seeks to foster partnerships within the ecosystem to support projects contributing to national development.
• Project finance teams from partner institutions will be stationed at SBI CHAKRA to facilitate collaboration.
• This collaboration will enable co-financing and knowledge sharing, boosting investment in sunrise sectors.

Key Concepts Involved:

• Sunrise Sectors: Emerging industries with high growth potential and innovation.
• Renewable Energy: Sustainable energy sources like solar, wind, and hydro power.
• Advanced Cell Chemistry: Innovations in battery technology for improved energy storage.