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Abstract

India’s largest public sector bank, State Bank of India (SBI) was established in 1955. SBI was the only bank from India that featured in the list of top 100 world class banks in the Fortune Global 500 rating. SBI had started offering merchant banking services since 1972. The growth of merchant banking in the mid 1980’s induced the bank to create a subsidiary, SBI Capital Markets in 1986. In order to compete with the private sector banks, SBI had been forced to revamp its operations. In the early 2000s, SBI had modernised its banking operations by enabling ‘anytime, anywhere’ banking through ATM, Internet, and telephone network. During the beginning of the year 2007, SBI had formulated a Green Banking Policy to provide solution to the issues of global warming and climate change. Since then, the Bank had been endeavouring to reduce carbon footprint in all its activities and establishments. SBI had adopted energy efficient measures like energy efficient lighting systems, paperless banking, installation of energy savers, water harvesting and efficient water usage method and plantation of fruit bearing trees for maintaining sustainable development. All these measures had helped the Bank in reducing cost and increasing its profit. Though SBI had adopted green measures with the support of government and international agencies, the main barriers in implementing eco friendly projects were lack of regulatory policies, lack of technical knowhow and the higher initial cost of the renewable energy projects. The case study analyses the growth of SBI in the national and international market, the green initiatives adopted by the Bank and whether SBI would succeed in its commitment to maintain sustainable development through implementing green technology policies.
Location:
Industry:
Other setting(s):
2011

About

Abstract

India’s largest public sector bank, State Bank of India (SBI) was established in 1955. SBI was the only bank from India that featured in the list of top 100 world class banks in the Fortune Global 500 rating. SBI had started offering merchant banking services since 1972. The growth of merchant banking in the mid 1980’s induced the bank to create a subsidiary, SBI Capital Markets in 1986. In order to compete with the private sector banks, SBI had been forced to revamp its operations. In the early 2000s, SBI had modernised its banking operations by enabling ‘anytime, anywhere’ banking through ATM, Internet, and telephone network. During the beginning of the year 2007, SBI had formulated a Green Banking Policy to provide solution to the issues of global warming and climate change. Since then, the Bank had been endeavouring to reduce carbon footprint in all its activities and establishments. SBI had adopted energy efficient measures like energy efficient lighting systems, paperless banking, installation of energy savers, water harvesting and efficient water usage method and plantation of fruit bearing trees for maintaining sustainable development. All these measures had helped the Bank in reducing cost and increasing its profit. Though SBI had adopted green measures with the support of government and international agencies, the main barriers in implementing eco friendly projects were lack of regulatory policies, lack of technical knowhow and the higher initial cost of the renewable energy projects. The case study analyses the growth of SBI in the national and international market, the green initiatives adopted by the Bank and whether SBI would succeed in its commitment to maintain sustainable development through implementing green technology policies.

Settings

Location:
Industry:
Other setting(s):
2011

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