Marking its 70th anniversary, the State Bank of India (SBI) has announced a sweeping initiative to accelerate India's renewable energy transition and deepen its commitment to sustainable rural development. The bank's efforts reflect a vision that combines financial strength with social responsibility and environmental stewardship.
To contribute to India’s Net Zero 2070 targets, SBI has launched a Solar Rooftop Programme that aims to solarise 4 million homes by FY2027.
"In order to play a lead role in India's renewable energy transition, SBI's Solar Rooftop Programme aims to solarise 4 million homes by FY2027, advancing India's Net Zero 2070 goals," an official statement said.
SBI also plans to establish a Centre of Excellence focused on project finance for emerging sectors such as renewable energy, e-mobility, data centres, semiconductors, green hydrogen, decarbonisation, and smart infrastructure. This centre is envisioned as an “asset of national importance.”
SBI reported that its agricultural lending exceeded ₹3.5 lakh crore in FY25 the highest in the country supporting farm infrastructure, agri-enterprises, Farmer Producer Organisations, and cooperatives. These investments are designed to enable long-term, sustainable rural development.
In addition, the bank spent ₹610.8 crore on corporate social responsibility (CSR) initiatives across 94 aspirational districts. The initiatives covered healthcare, education, rural upliftment, and environmental sustainability. Key projects included a mission to plant 9 lakh trees in the Cauvery basin and extensive support for underprivileged students and persons with disabilities.
Over the past 70 years, the State Bank of India (SBI) has evolved from the Imperial Bank into India’s largest public sector bank and a cornerstone of the nation's financial system. Since its nationalisation in 1955, SBI has led financial inclusion and rural development while steadily expanding its operations.
As of October 2024, the bank boasts an asset base of over ₹61 trillion, serving more than 50 crore customers through 22,500+ branches, 63,580 ATMs/ADWMs, and 82,900 business correspondent outlets, demonstrating unmatched national reach. Internationally, SBI supports Indian businesses and the diaspora with 241 offices across 29 countries.
In the fiscal year 2025, SBI's standalone net profit grew by 16%, reaching ₹70,901 crore, an increase from ₹61,077 crore in the previous fiscal year. Simultaneously, the bank achieved a significant milestone with its operating profit climbing 17.89% year-on-year to ₹1,10,579 crore, marking the first time it has exceeded ₹1 lakh crore.
Read More: SBI Eyes Debt Fundraising Initiative by August Through a Tier II Bond Issue!
As of July 01, 2025, at 2:29 PM, SBI share price is trading at ₹819.80 per share, a decline of 0.07%. Over the past month, the stock has surged by 0.76%.
With a focus on clean energy, inclusive financing, and long-term sustainability, SBI is reaffirming its role as a national development partner. As it celebrates 70 years of impact, the bank is setting the stage for a future that balances scale with social purpose and environmental accountability.
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Published on: Jul 1, 2025, 3:02 PM IST
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