51537 - SBI ECB

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Summary of Investment Information

Project Number

51537

Company Name

STATE BANK OF INDIA

Date SPI Disclosed

Nov 6, 2026

Country

India

Region

South Asia

Projected Board Date

Mar 17, 2026

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Nov 7, 2026

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Mar 17, 2026
Signed : May 29, 2026
Invested : Jun 29, 2026

Sector

Commercial Banking - General

Project Description

The proposed investment comprises a senior unsecured Social Loan facility of up to US$150 million to State Bank of India (SBI or the Bank), acting through its GIFT City Branch (the Project). IFC’s debt proceeds will be dedicated primarily to growing SBI’s financing to women micro-borrowers via Self-Help Group (SHGs) lending model.

Associated Advisory Engagement

Through its India Women Finance (IWF2) advisory project, IFC will provide training for staff of FIs, including SBI, aimed at strengthening the Bank’s capacity to increase lending to women micro-entrepreneurs. This will include training for SHG members who act as intermediaries between banks and the local community, providing door-to-door services to improve women’s financial literacy and usage of formal financial services.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	150.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Straight Senior Loan	Loans to Microfinance
Syndications	Loans to Microfinance

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

Increased access to microfinance for women-borrowers in rural areas: Through the proposed investment, IFC will support increase in access to microfinance for SHGs, which consist primarily of women. As of 2025, there were over nine million SHGs in India, across one hundred million rural households. Close to 90 percent of these SHGs were all-women SHGs. SHGs not only play a key role in supporting women's access and usage of formal financial services through the SHG-BLP, but also in supporting the development of the rural economy, including farm and non-farm activities. Competitiveness: IFC anticipates that the Project will promote greater competitiveness in financing women microentrepreneurs, especially supporting the graduation of women microentrepreneurs from group-based lending via SHGs to individual borrowers from formal FIs.

Knowledge, innovation and capacity building: IFC will continue to support, through its India Women Finance 2 Project, financial institutions on individual micro-enterprise loans, including working with SBI in building their capacity to grow their graduation portfolio. IFC will pilot trainings to select SBI staff in rural branches in two states covered under the program. This will include training intermediaries between banks and the local community, who are also members of SHGs, and who play a key role in improving women's financial literacy, and usage of formal financial services.

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Board Composition - Total (#)	individuals	Not Available	Not Available	Not Available
Direct Employment (#) Operations And Maintenance	individuals	Not Available	Not Available	Not Available
Number of Senior Management Positions	individuals	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The proceeds of IFC’s senior loan will be dedicated to growing SBI’s financing to micro entrepreneurs via Self Help Groups (SHG) with at least 90 percent of lending earmarked for women micro-entrepreneurs/borrowers including women agriculture and agri-allied micro entrepreneurs within SHGs and up to 10 percent for individual women micro-entrepreneurs who have graduated from SHGs.

The proceeds of the proposed investment will initially be used to refinance existing eligible social loans (deployed to SHG and SHG graduates) under the Environmental, Social and Governance (ESG) Financing Framework and will progressively be applied to finance newly originated eligible social loans (to be deployed to SHG and SHG graduates). IFC investment proceeds are not expected to be applied to any coal-related activities or higher-risk business activities such as those related to involuntary resettlement, adverse impacts on Indigenous Peoples, significant risks to the environment, community health and safety, biodiversity, cultural heritage, significant retrenchment, or significant occupational health and safety risks. Hence, the overall E&S risk of the proposed investment is considered low and the Project is categorized as FI-3.

The E&S requirements include the IFC’s (MFI) Exclusion List and relevant national E&S laws and regulations as applicable to the microfinance segment.

SBI has an ESG Financing Framework, 2025 (the framework) publicly disclosed at https://sbi.bank.in/documents/17836/53469043/ESG+FINANCING+FRAMEWORK+2025.pdf/2ec6af73-fbd3-67e2-99ca-cb8b37db336d?t=1747373014466, which is considered adequate to manage the E&S risks related to the relevant portfolio supported by this IFC’s Loan. The framework includes screening of the social loans to predefined exclusion criteria including the IFC Exclusion List. The sustainability finance committee of SBI is responsible for screening and identifying eligible projects (including social loans) under this framework.

SBI has adequate HR documented policies aligned with applicable laws and IFC Performance Standard 2 requirements and a dedicated HR unit to manage potential risks emerging out of human resources management.

There is no Environmental and Social Action Plan recommended for the Project.

Contacts

For Inquiries About the Project, Contact

State Bank of India
Abhijit Mishra
AGM
022-22801426
agm3.esgcfu@sbi.co.in
ESG & Climate Finance Unit,Corporate Centre1st Floor, Mittal Tower ‘C’ BlockMadame Cama Road, Mumbai- 400021
https://sbi.bank.in/

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