Why in the News?
The State Bank of India (SBI) has launched CHAKRA, a Centre of Excellence (CoE) to finance eight sunrise sectors critical for India’s sustainable and technology led growth.
What is CHAKRA?
- CHAKRA stands for Centre of Excellence for financing sunrise sectors
- An institutional platform by SBI to build sector specific expertise
- Aims to improve flow of capital, risk assessment, and innovative financing
- Focus on capital intensive, future oriented industries
Sunrise Sectors Covered
- Renewable Energy (RE)
- Advanced Cell Chemistry and Battery Storage
- Data Centre Infrastructure
- Smart Infrastructure
- Electric Mobility
- Green Hydrogen
- Semiconductors
- Decarbonisation
Investment Significance
- These sectors together require nearly Rs 100 lakh crore investment over five years
- Expected to be key drivers of India’s economic future
Key Features of CHAKRA
- Supports specialised project financing structures
- Strengthens risk evaluation for emerging technologies
- Facilitates co financing and foreign capital inflows
- Enables engagement with DFIs, multilateral agencies, banks, NBFCs, start ups, academia, and policy think tanks
International and Institutional Partnerships
- SBI has signed MoUs with around 21 financing institutions
- Project finance teams to be co located at SBI CHAKRA
- Major foreign partners include MUFG and Sumitomo Mitsui Banking Corporation
- Helps mobilise international debt capital and expertise
| [2023] With reference to green hydrogen, consider the following statements:
1. It can be used directly as a fuel for internal combustion. 2. It can be blended with natural gas and used as fuel for heat or power generation. 3. It can be used in the hydrogen fuel cell to run vehicles. How many of the above statements are correct? (a) Only one (b) Only two (c) All three (d) None |
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