SBI Unit to Raise Rs 2000 Crore for Climate Fund.

Banking & Finance | Dated: 25 Nov 2024

A unit of India’s largest lender, State Bank of India, is planning to raise Rs 20 billion ($237 million) through its third climate fund, according to sources familiar with the matter.

🎯 Key Highlights:

  • - SBI Ventures Ltd. intends to raise the money from multilateral institutions after receiving approval from the company’s board, the sources said, requesting anonymity due to the confidential nature of the information.

💡 Other Important Facts:

  • (i) The fund will invest in small and mid-sized companies focused on recycling waste, reducing emissions, and other related initiatives, and will also seek equity partnerships, the sources added.
  • (ii) State Bank of India and SBI Ventures have not yet commented on the matter.

📚 Test Your Knowledge:

How much money Recently does the SBI Unit plan to raise for the Climate Fund?

Correct Answer: 2000 crore

🚀 Quick Recap:

About SBI

  • Chairman : Challa Sreenivasulu Setty
  • Headquarter : Mumbai