New Delhi, Feb. 2 -- State Bank of India (SBI), on Monday, took a step towards financing for the next-generation growth sectors with the launch of 'CHAKRA,' a Centre of Excellence (CoE) dedicated to sunrise industries. The initiative aims to power financing for sectors critical to India's economic transformation and its strategic goal of becoming a 'Viksit Bharat' by 2047.

As per an SBI release, these sunrise sectors are projected to attract capital expenditure of approximately Rs 100 lakh crore by the year 2030.

The newly established Centre will function as a knowledge-led platform to facilitate financing for technology-driven and sustainability-focused industries. SBI intends to direct capital flows into these capital-intensive areas ...