Current Affairs - Banking - Discussion

The State Bank of India (SBI) is setting up a specialized unit to handle project financing for emerging sectors such as artificial intelligence (AI), e-commerce, and fintech. This initiative is part of SBI's broader strategy to diversify its project finance portfolio beyond traditional infrastructure projects. The bank plans to complete the setup of this unit within a year, recruit specialized professionals, and appoint an external consultant for its successful execution. The unit will be named the "Center of Excellence for Project Financing" and will provide financing solutions to new-age industries.