140621-Sustainability Report (SR) Year 2020-21

Transformative Resilience
Sustainability Report 2020-21 | 1

Transformative Resilience Transformative Resilience
Contents
1 Sustainability
Snapshot
2From the
Chairman’s
Desk
3Message from
the Leadership
4
About This
Report
5Resilience
in the New
Normal
6 How We
Create Value
7 Ethics and
Governance
8Responsible
Investment at
SBI
9Stakeholder
Engagement
& Materiality
Assessment 10
Financial
Capital
Management
11
Natural Capital
Management
12 Human Capital
Management
13 14 15 16 17 18
Social and
Relationship Intellectual Awards and GRI Content BRR
Capital Recognition Mapping Glossary
Capital Index
Management Management
2 | Sustainability Report 2020-21 Sustainability Report 2020-21 | 3

Sustainability Snapshot
Highlights of FY 2020-21
40.88%
Y-o-Y growth in
net profit
45.92 crore 57 lakh crore+ `144.88 crores

Customer base Aggregate domestic
business size
CSR spend
2.65 lakh+
`30,000 Trees planted
crores+ 25.92%
Sanctioned Women in
for A Legacy of the `108 crores
renewable workforce
energy Sustainability Employee
contribution to
As on 31st March 2021 PM CARES Fund
8 7.83 lakh+
58 hrs. 11,943
Green Building SHGs catered to,
benefitting Average Financial literacy
certifications
75 lakh training camps, with 3.64 lakh+
8.69 lakh+ women time per participants
Youth trained employee
through RSETIs
93%
Transactions
through Alternate
Channels
`538 crores
Figures mentioned in the Report are in lakhs and crores, as per the Indian system, the conversion of which is as under: Disbursed to street vendors
• 1 crore = 10 millions
• 10 lakhs = 1 million under PM SVANidhi Scheme

Dear Reader, In recent years, SBI has also aligned its products, Government’s Beti Bachao Beti Padhao campaign,
Whether it comes to communities, businesses or nations services and community development initiatives which aims to promote the welfare of the girl child,
at large, the year gone by has shed light on the need for with the Government’s vision for a Digital India. the Bank also donated an amount of ₹10 crores to
resilience and agility. Faced with an unprecedented public The Bank has been investing in analytics and digital the Armed Forces Flag Day Fund. The contribution
From the health crisis, institutions around the world have had to
adapt to the needs of the hour, to ensure the health and
technologies to assess customer needs, improve
product delivery, enhance customer satisfaction
to the fund will be utilised for providing education
grants to girl children of war veterans and war
Chairman’s
wellbeing of all. and optimise operational efficiency. These digital widows. For promoting sports and training athletes
interventions have proved to be instrumental during for international events like Olympics, the Bank
Since its inception in 1806, SBI has witnessed extensive the pandemic, ensuring seamless service delivery contributed ₹5 crores to the National Sports
shifts in the macroeconomic landscape. The Bank has and significantly reducing risk for employees and Development Fund (NSDF) under the aegis of
Desk
thrived despite evolving customer needs, geopolitical customers as well. Ministry of Youth Affairs and Sports, Government of
developments and regulatory changes, among much India (GoI).
more. Transforming with the times has helped it endure In its continuous pursuit to be future ready, Bank
over the centuries, earning the patronage and trust of has accorded considerable focus towards upskilling In keeping with one of the core values of
crores of customers. its workforce. Several online learning initiatives sustainability, SBI is continuing its journey towards
have been launched for skilling/reskilling of SBI’s carbon neutrality. The Bank is constantly striving to
Even in the unprecedented trying times arising out workforce. These culminated in the prestigious ensure energy and resource efficiency, health and
of COVID-19 and the lockdowns needed to contain Brandon Hall Excellence Awards for the Bank, comfort, and responsible waste management at its
the virus’ spread, SBI’s focus remained on ensuring including the Best Use of Blended Learning, facilities. Some of its flagship establishments have
uninterrupted services without sacrificing health Best Learning Programme Supporting a Change been rated under different categories by the Indian
and safety. This translated into increased harmony Transformation Business Strategy, and Best Green Building Council (IGBC). Going forward,
and cohesion within the Bank, to serve customers, Unique or Innovative Learning and Development the Bank’s new facilities will also be in compliance
communities and other stakeholders. I take pleasure Programme. with green norms, cementing the commitment to
in presenting this report, themed ‘Transformative internalising sustainable practices.
Resilience’, which showcases efforts undertaken in The Bank’s workforce rose to the challenge
FY 2020-21 to usher in a sustainable, inclusive and of keeping the operations running during the In FY 2020-21, the Bank also continued to
prosperous future. pandemic. SBI supported them by providing drive environmental protection and biodiversity
special leave for those in quarantine, reimbursing management through community outreach efforts.
Customer service has always been a key differentiator for expenses on COVID-19 tests and treatment and It supported R&D efforts aimed at promoting
SBI, which has helped it earn and retain the trust of its providing monetary compensation to customer- clean energy transport and sustainable energy
large customer base. Specifically, during the pandemic, facing personnel. Recognising the unique solutions in India, in collaboration with IIT
we have stood by our customers, taking proactive stressors facing people during this time, emotional Madras. Bank’s initiative of SBI Green Fund has
measures to support them. Close monitoring of the wellbeing initiatives like webinars, power talks and onboarded customers in the sustainability journey
Bank’s portfolio helped identify sectors that were most programmes on mental health and resilience-building by facilitating online redemption of rewards points
likely to be affected. Remedial measures have been taken were also introduced. towards green initiatives. The fund collected is
to support these businesses, while also mitigating donated to SBI Foundation to support green
credit risk. Initiatives have been taken by the Bank The Bank takes great pride in the fact that
its employees embodied its culture of social initiatives related to tree plantation, spring shed
for the borrowers in all segments to ease the management, waste management, sanitation and
unforeseen stress arising out of the pandemic. responsibility, collectively contributing ₹108 crores
to the PM Cares Fund. Additionally, SBI contributed clean energy in remote areas. Additionally, the Bank
Responsible finance has been an integral aspect ₹11 crores to the PM Cares Fund to support the has initiated Project Waste No More, an innovative
of Bank’s strategy to effect positive change. second phase of the government’s COVID-19 Public-Private Partnership (PPP) for dry waste
It has helped leverage the organisation’s vaccination drive. For the reporting year, Bank management with 100% segregation and recycling
core strength to drive progress on national allocated more than 25% of the Corporate Social in collaboration with Municipal Corporation of
and global developmental goals. SBI is Responsibility (CSR) budget for COVID-related Greater Mumbai, Hindustan Unilever India and
committed to financing sectors like relief measures. The Bank’s dedicated CSR arm, SBI Xynteo India.
renewable energy, clean mobility Foundation, also launched a flagship programme SBI is cognizant of the responsibility that
and affordable housing, which are on healthcare and undertook various initiatives like accompanies the privilege of being India’s largest
addressing some of the most community-based screening for COVID-19, tele- public sector bank, especially in unprecedented
pressing social and environmental care, supporting Research and Development (R&D) times like these. The Bank remains unwavering in its
challenges of the 21st century. of indigenous health technologies, providing food commitment to ensuring that its own success and
This year, the Bank also to migrants, donation of health equipment and resilience translate into that of all its stakeholders.
signed a Memorandum of protective gears, to name a few. As we embark on the journey of recovery and
Understanding (MoU) with rebuilding, I invite your feedback and suggestions on
the Luxembourg Stock Additionally, CSR measures relating to education,
promotion of sport, conservation of national how SBI can amplify the value it creates for society.
Exchange, to add impetus
to Environmental, Social and heritage, arts and culture, R&D, environment Thank you,
Governance (ESG) focussed and sustainability have also been undertaken to
promote developmental initiatives. In line with the Dinesh Khara
funds and bonds market. Chairman, State Bank of India
6 | Sustainability Report 2020-21 GRI 102-14, GRI 102-15 GRI 102-14, GRI 102-15 Sustainability Report 2020-21 | 7
Message from the Leadership
Shri Challa Sreenivasulu Setty Shri Ashwani Bhatia

Managing Director Shri Swaminathan J. Shri Ashwini Kumar Tewari
Managing Director
Corporate Banking & Global Markets Managing Director Managing Director
Retail & Digital Banking
Risk, Compliance & Stressed International Banking,
Assets Resolution Group Technology & Subsidiaries
Agility and innovation are the driving The importance of collaboration is
forces that have allowed SBI to remain more evident than ever, as individuals, The changing regulatory landscape Since becoming the first Indian bank to
triumphant through the years. These organisations and countries are has made it essential for businesses to transcend national borders in 1864, SBI has
have helped it endure through ever- working together to recover from the ensure that their governance practices continued to expand its global footprint.
evolving social, economic and political unprecedented crisis arising out of the are dynamic and robust. This is especially A keen focus on tailoring its offerings to
landscapes. COVID-19 pandemic. It’s no surprise, true for the highly regulated Banking, meet the needs of each market has been
Though digital transformation has then, that the United Nations lists Financial Services and Insurance instrumental in facilitating this growth. The
played an invaluable role in ensuring partnership as one of the key tenets for (BFSI) sector. Regular risk assessment, Bank’s subsidiaries have also contributed
SBI’s success in recent years, its achieving the much-desired Sustainable monitoring and management have helped to this by enhancing SBI’s offerings to keep
importance has been more evident than Development Goals (SDGs) and ushering SBI retain its leadership position despite pace with evolving customer needs. Each of
ever during the COVID-19 crisis. YONO in peace and prosperity for people and current and past crises. the subsidiaries is also creating policies and
and other digital offerings have been the planet. sustainability frameworks.
A commitment to compliance, ethical
instrumental in ensuring a seamless As India’s largest public sector bank, behaviour and transparency underlies The Bank is committed to leveraging its
banking experience, as well as ensuring SBI is cognizant of its responsibility SBI’s operations. The Bank strives wide reach and range of services to ensure a
the health and safety of the Bank’s towards customers, communities and to operate in a responsible manner hassle-free experience for customers. At the
customers, employees and communities the globe. The Bank is going beyond and create value for its stakeholders. same time, devising technological solutions
at large. These digital initiatives have merely minimising the adverse impacts Recognising the need for organisations to to ensure sustainability and inclusiveness is
also helped the Bank manage its of its own operations by helping foster enhance their non-financial performance a priority area, which is helping it thrive in
environmental footprint, drive financial an ecosystem of responsibility and as well, SBI is increasingly incorporating the disruptive business landscape. Over the
inclusion efforts, and be future- collaboration. In the present times, it ESG considerations in its operations and years, SBI has been unwavering in its efforts
ready. The use of technologies will be is even more crucial to back the right public disclosures. All this, backed by the to leverage its innovations and presence
instrumental and integral to sustainable sectors to restore and strengthen STEPS (Service, Transparency, Ethics, to benefit the communities within which it
efforts across all sectors, to which the livelihoods and economies. SBI is Politeness and Sustainability) value functions, and it continues to do the same in
Bank will continue to contribute. committed to ensuring that this system, has helped the Bank enhance the new normal.
recovery does not come at a social or its own resilience and, in turn, that of its
environmental cost. stakeholders.
8 | Sustainability Report 2020-21 GRI 102-15 GRI 102-15 Sustainability Report 2020-21 | 9
Message from the About This Report

Chief Sustainability Officer
T
his sustainability report, based on the theme
‘Transformative Resilience’, showcases SBI’s
efforts to adapt to changes in the business
landscape. It brings out the Bank’s responsible
approach towards ensuring business continuity,
customer satisfaction and exemplary services. It
further demonstrates its approach to corporate
citizenship, and the evolution of SBI’s initiatives to
meet the needs of the hour.
SBI’s sixth consecutive Sustainability Report

provides an overview of its performance during Scope and Boundary
the reporting period of 1st April 2020 to 31st March
2021. It contains information on areas that the The scope and boundary of the Report pertain
Shri Rana Ashutosh Kumar Singh
Bank believes are of interest to its stakeholders to SBI’s domestic operations, which include the
DMD (HR) & Corporate Development Officer Corporate Centre office in Mumbai, various
and can impact its business. The materiality
framework created through continuous engagement other Corporate Centre establishments, and 17
Sustainability and related socioeconomic areas are a collective responsibility. As circles across the country.
a responsible corporate, SBI has always strived to align its busines actions with with stakeholders is reviewed annually. Periodic
the societal requirements. As India’s largest public sector bank, SBI is uniquely discussions and reviews with the Board and its
positioned to effect positive change across the nation and arguably, the globe. committees, the senior management and other Advisory Statement
The Bank is proud to shoulder this responsibility and has, therefore, embodied stakeholders help the Bank to work consistently
This report contains forward-looking statements
sustainability in its core values to drive and inspire action towards fulfilling towards fulfilling the expectations of its
that define SBI’s plans and expectations, based on
national and global aspirations. stakeholders.
rational assumptions and previous performance.
SBI is funding sectors such as agriculture, livelihood generation, housing and These are dependent on developments in
The Bank’s most recent Sustainability Report
renewable energy, which are playing a significant role in enhancing the resilience the industry, changes in geographical market
was published for FY 2019-2020. The report
of communities. The Bank is also leveraging its domain expertise to foster conditions, government regulations, laws and
financial inclusion and literacy, through its outreach, products and services. for FY 2020-21 does not feature any significant
restatements from last year. other incidental factors. These statements must
Special consideration is given to design and tailor offerings in order to drive
not be used as an assurance of the Bank’s future
progress on SDGs concerning gender equality, generating livelihood directed at
poverty reduction, promoting clean energy and climate action, among others. Reporting Guidelines performance, as the underlying assumptions may
change significantly.
Reducing the environmental impact of the Bank’s operations has also been a This report has been prepared in accordance with
priority, in line with its commitment to becoming carbon neutral. This is combined
with SBI’s initiatives in other areas including education, skill development,
the GRI Standards: Core option. Additionally, Precautionary Principle
sustainability disclosures are aligned with the
healthcare, sanitation, rural development and women’s empowerment, to drive following international and national guidelines: Being the largest bank in India, it is critical
sustainability in a holistic manner.
• Integrated Reporting (<IR>) Framework of the for SBI to ensure proper identification and
The COVID-19 pandemic has highlighted and brought to the fore the need International Integrated Reporting Council management of all its significant risks. The
for a concerted effort to overcome the disruptions touching all aspects of Bank’s precautionary approach has been
(IIRC)
human life. It is clear that rebuilding measures will be most inclusive if they are communicated through information about its
sustainable, inclusive and accessible to all. This report offers a snapshot of SBI’s • National Voluntary Guidelines on Social,
Environmental and Economic Responsibilities internal controls and practices for mitigating risk
endeavour to support its customers, workforce, communities, investors and
of Business (NVG-SEE) and managing its economic, environmental and
value chain partners, and how it has been contributing to development efforts in
social performance. The Bank has put in place
a sustainable manner. • United Nations Global Compact (UNGC)
a Sustainability and Business Responsibility
Principles
(BR) Policy to guide its overall sustainability
• United Nations Sustainable Development Goals performance. It also has a robust set of policies
(SDGs) and frameworks in place to ensure effective risk
management.
GRI 102-11, GRI 102-46, GRI 102-48, GRI 102-50,

10 | Sustainability Report 2020-21 GRI 102-15, GRI 102-20 Sustainability Report 2020-21 | 11
GRI 102-51, GRI 102-52, GRI 102-54
of six instalments with respect to term loans, Loans were introduced to help tide street vendors
deferment of interest on working capital (WC) through the crisis, whereas Special Pre-Approved
limits for the period from 1st March to 31st August Personal Loan (SPL PAPL) scheme was geared at
2020, reassessment of WC cycle and resetting of customers in urgent need of money. Additionally,
credit period and credit limit. All eligible customers the Bank extended interest deferment facility
were contacted proactively via messages and and provided moratorium on Equated Monthly
e-mails. Instalments (EMIs) and term loan instalments to
lend support to the agriculture sector. Emergency
SBI also arranged mobile van ATMs with 4G credit lines were also extended to help meet
connectivity for ease of cash withdrawal during the immediate financial needs.
pandemic. Keeping in mind the challenges faced by
customers, it launched a series of schemes catering The Bank also promoted a number of contactless
to varied consumer segments. PM SVANidhi banking initiatives, which have been largely
appreciated by customers.
Resilience in
the New Normal
T
he uncertainties that came with the assessing, monitoring, and managing risks
pandemic, made it important for systematically across all its portfolios. The onset
organisations to adapt to the new normal. of the pandemic was a testing point of the risk
Being the largest Indian public sector bank, it management frameworks and Business Continuity Mobile ATMs at Customers’ Doorsteps
became especially vital for SBI to respond to the Plans (BCPs) for SBI.
pandemic with utmost social responsibility and Making modifications to the existing Enterprise-Wide Loyalty Programme (EWLP), SBI encouraged
commitment. Being a customer-centric bank, SBI’s primary focus customers to donate reward points earned for their transactions to fight against the pandemic. SBI
was on transitioning to the new normal without has introduced a new redemption category known as the SBI COVID-19 Relief Fund, which enables
An accountability towards employees, customers interruption in any of its services. SBI has a detailed customers to donate their reward points. As of 31st March 2021, 17,400 customers have contributed
and communities lies at the core of SBI’s ethos. BCP in place, which helps ensure continuity of 129.19 lakh points, amounting to ` 32.30 lakh.
With a strong focus on fulfilling the needs operations at branches and offices during any
of stakeholders, SBI has been continuously disruptions. Among others, the BCP covers
endeavouring to transition seamlessly and natural disasters as well as pandemics and global
effectively to the new normal. disruptions.
Caring for Its People everyday life. The Bank, therefore, realigned and
reworked the existing Work from Home Policy
The Bank’s employees played a significant role in into a more comprehensive and robust Work
Transforming the Banking The Bank’s Risk Management function, has taken
adjusting to the new world order. Staff members from Anywhere Policy. This policy provides more
a proactive approach in identifying, assessing,
Experience and managing risks associated with the various
valiantly rose to the challenge of keeping flexibility to staff members to continue working
operations running during this critical period. from alternate locations, including their respective
activities of the Bank and risks emerging from the
SBI constantly works towards creating an The Bank remains focused on their utmost safety, homes. This, in turn, has helped ensure a stable
occurrence of disruptive events.
environment of increased risk awareness. It aims and is taking adequate precautions and closely work-life balance and maintain social distancing,
at continuously upgrading controls and security In line with the Reserve Bank of India’s (RBI’s) monitoring government mandates. without disrupting operations.
measures, including those related to cyber security, directives to support Small and Medium
to avoid or mitigate risks. The Bank has put in With the initial lockdowns implemented in the The health and safety of employees has always
Enterprises (SMEs), the Bank has taken various
place policies and procedures aimed at measuring, country, it became essential for SBI to ensure been a priority at SBI, and in these testing
initiatives including, but not limited to, deferment
seamless functioning, despite the disruptions to times, it became even more important for the
12 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Occupational Health and Safety) GRI 403-3 Sustainability Report 2020-21 | 13
Building Resilient Communities India. Additionally, 10 hubs established with State

National Health Missions served to train more than
SBI has a deep sense of social responsibility more than three lakh healthcare professionals on
ingrained in its culture and contributing towards various aspects related to COVID-19.
the greater good is a key aspect of this. It has
worked closely with all stakeholders to minimise Further, the Bank collaborated with Indian
the impacts of this pandemic by leveraging its wide Institutes of Technology (IITs), Indian Institute
reach and resources. of Science (IISc) incubators, start-ups and the
healthcare industry to support research and
The Bank has spent a total of `43 crores, towards development (R&D) projects intended to prevent,
supporting the fight against COVID-19. SBI diagnose, contain and treat the coronavirus.
committed `11 crores to support the government’s
COVID-19 vaccination drive. The Bank also Through the activities conducted by SBI
SBI leaders took an oath to ensure COVID-appropriate behaviour Foundation, the Bank also launched a collaborative
donated `1 crore to the Mumbai Police Foundation
to the families of COVID warriors, who lost their healthcare programme called the India Health
Bank to stand for its people. It took a number of contact tracing apps, and restriction of movement Alliance (IHA) to help combat current and future
lives in the line of duty. Further, SBI takes immense
proactive measures for its employees, such as in multi-floor offices, among much more. Along healthcare challenges in the country. This initiative,
pride in the fact that its employees have embodied
reimbursement of expenses incurred on COVID-19 with this, the Bank also made arrangements for in collaboration with the United States Agency for
its culture, collectively contributing `108 crores
tests or treatment, and sanction of special leave isolation rooms for positive asymptomatic staff International Development (USAID) India, Xynteo
towards the PM CARES Fund. The Bank has also
to employees in quarantine, to name a few. In members, their dependents and pensioners. India and IPE Global Partnerships for Affordable
donated `1 crore to set up medical rooms at six
the initial phase, SBI also provided monetary Health Access and Longevity, aims to combat the
In light of COVID-19, 11 exclusively designed centers in collaboration with OYO and Apollo
compensation to employees who were at the pandemic in India, provide comprehensive primary
collaborative webinars for 596 Persons with Hospitals.
forefront, to support and motivate them. healthcare and promote innovation.
Disabilities (PwDs) were organised by the Bank.
Amidst the pandemic, the country encountered
The Bank has put in place a COVID-19 Standard These webinars ensured that the employees
an acute shortage of ventilators, other health
Operating Procedure (SOP), which consist of remained engaged with the Bank during their
equipment, and PPE kits for use by healthcare and
guidelines regarding the safety and security of its exemption from attending office. Sensitisation
law enforcement professionals. The Bank’s CSR
employees, customers and communities. The SOP workshops were conducted for Human Resources
arm, SBI Foundation, procured and distributed
clearly defined measures like the use of Personal (HR) Managers for supporting and handholding
335 ventilators to government hospitals across
Protective Equipment (PPE), social distancing the employees for COVID-19-triggered mental
the country. The Foundation also distributed other
norms, periodic fumigation of premises, use of distress.
equipment, such as thermal scanners, infrared
thermometers, pulse oximeters, electrocardiogram
machines and non-stress test machines.
Naya Savera: A Dedication to COVID Warriors Additionally, more than 74,000 PPE kits were
The Bank is leveraging digital platforms to provided to healthcare professionals and police
to instil positivity. The three-day series was
enhance employee engagement. One initiative personnel across the country.
made available on all social media platforms to
that has been undertaken towards this end was maximise its reach and impact. Further, freshly cooked meals and dry ration
the digital musical series known as ‘Naya Savera’.
kits were distributed to migrants, domestic help
The song ‘Naya Savera’ dedicated to all and daily wage earners, who were significantly
COVID-19 warriors and essential service impacted by the pandemic.
providers was launched by the Chairman in
Despite the pandemic, SBI continued its initiatives
recognition and appreciation of their untiring
to impart financial literacy and skill upgradation
and uninterrupted services during the crisis.
through its Rural Self-Employment Training
The event showcased SBI’s contributions in
Institutes (RSETIs).
the areas of sustainability, CSR and HR, along
with featuring a few musical performances, #BeyondBanking #SpreadingPositivity The Bank, through the SBI Foundation, also actively
supported an initiative to train and mentor 50,000
SBI Recognised for Contribution to Relief Efforts
healthcare providers across various states in
SBI’s Social Media Presence
1.79 crore+ Facebook likes 42 lakh+ Twitter followers
40 crore+ YouTube video views 3.5 lakh+ YouTube subscribers
20 lakh+ Instagram followers 19 lakh+ LinkedIn followers
SBI ranked 1st among the top 100 banks in the number
21 lakh+ Quora content views of Facebook likes, Twitter followers, YouTube views
and Instagram followers as on 31st March 2021.
How We Global Presence
Create Value
SBI’s international operations have been guided SBI has gradually spread its wings across the globe
by the overarching principle of supporting global with a presence across 229 offices in 31 countries,
Indian corporates and Indian diaspora spread and has become a pioneer of international banking
across the geographies. The Bank’s focus has among Indian public sector banks. These operations
gradually moved from its reliance on the India- are managed by a separate business unit, the
based business to claim its position in the overseas International Banking Group (IBG), headed by the
F
ounded in 1806 as the erstwhile Bank of Automated Deposit and Withdrawal Machines local markets, in line with its vision to become a Deputy Managing Director (IBG) and overseen by
Calcutta, State Bank of India (SBI) is the oldest (ADWMs), and employs over 2.45 lakh people with truly international bank. MD (IB,T&S).
commercial bank in the Indian subcontinent, a customer base exceeding 45 crore people. The
strengthening and serving the aspirations of its total income of the Bank was `3.08 lakh crores for
vast population. SBI is India’s largest commercial the reporting period. Branches/Offices Branches/Offices Subsidiaries
bank in terms of assets, deposits, branches, Belgium (1) China (1) Indonesia (11)
A steady stream of technology-driven innovations, Germany (1) S. Korea (1) Nepal (108)
number of customers and employees, enjoying the UK (1) Japan (2)
necessitated by changing customer preferences, Joint Venture
continuing faith of millions of customers across the India (1)
Subsidiaries Bhutan (1)
is transforming SBI’s retail banking landscape. Maldives (4)
social spectrum. SBI is headquartered in Mumbai, Russia (1)
Sri Lanka (5) Representative
The Bank has been able to move over 90% of its UK (13)
and is a government owned, Indian multinational, Bangladesh (18) Office
transactions to alternate channels. Representative Myanmar (1) Philippines (1)
public sector banking and financial services
Office Singapore (5)
company. France (1) Hong Kong (1)
18
In collaboration with non-banking subsidiaries As on 31st March 2021, SBI’s flagship 17
and joint ventures, the Bank provides a wide range application YONO has surpassed Branches/Offices 160
of products and services in the sectors of retail 37.10 million registered users, up USA (3) 12
banking, small and medium enterprises (SMEs) and from 21.2 million in March 2020. Subsidiaries
California (7)
corporate banking, wealth management services, Branches/Offices
Canada (6)
life insurance, general insurance, merchant Bahrain (2)
Representative 1 19 UAE (2)
banking, mutual funds, credit cards, factoring SBI actively utilises social media to connect with its Office Representative Oman (1) 2
services, securities trading and primary dealership. customers. The Bank has the highest global fanbase USA (1) Office Israel (1)
Branches/Offices
Brazil (1) Branches/Offices
The details of SBI’s branches and outlets, joint on Facebook and highest number of followers on S. Africa (2) Representative
Australia (2)
ventures and subsidiaries can be found online Offices
Twitter across all banks in the world. It also has the Subsidiaries
Iran (1)
at: https://www.sbi.co.in/web/affiliates. As on 31st Mauritius (15)
highest followers on Instagram and LinkedIn across Botswana (1)
UAE (2)
March 2021, the Bank manages 22,219 branches, all Indian banks. Exchange Companies
Investment
62,617 Automated Teller Machines (ATMs) and Oman (2)
Nigeria (1)
Dubai (1)
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Building a Resilient Institution

SBI has always endeavoured to embrace change The Bank interacts with several industry associations
without losing sight of its values, namely Service, on matters of policy development, and is associated
Transparency, Ethics, Politeness and Sustainability. with several reputed organisations, such as:
The Bank has re-evaluated risks, enhanced systems
• Indian Banks’ Association (IBA)
for growing the retail banking arm, rolled out
several IT initiatives, and enhanced the customer • Indian Institute of Banking & Finance (IIBF)
experience to serve India’s vast population. • Federation of Indian Chambers of Commerce and
Industry (FICCI)
SBI has shown remarkable resilience in the
continuity of its core functionalities at its • Confederation of Indian Industries (CII)
offices across the globe, despite heterogeneous • The Associated Chambers of Commerce and
challenges on account of the pandemic. The Bank Industry of India (ASSOCHAM)
has leveraged its digital offerings by launching
YONO in new geographies to improve penetration Additionally, SBI has supported various initiatives of
through contactless offerings for raising retail the Climate Change Council and FICCI task force for
deposits. SBI offers a wide range of products and ESG.
services to SMEs, corporate and government
The Bank has not made any financial or in-kind
departments and financial institutions.
political contributions in the year.
Committed to
Providing Simple,
Responsive
STEPS and Innovative
Service | Transparency | Financial Solutions
Ethics | Politeness |
Sustainability
Be the Bank of
Choice for a
Transforming India
Virtual launch of YONO SBI in Sri Lanka, South Africa and Bangladesh
18 | Sustainability Report 2020-21 GRI 102-12, GRI 102-13 GRI 102-16 Sustainability Report 2020-21 | 19
Vigilance the Central Board comprised of 13 members. The

major roles of the Board include:
The Vigilance function employs measures that are • Overseeing the Bank’s risk profile
preventive, punitive and participative. The Bank
• Monitoring the integrity of the Bank’s business
observed Vigilance Awareness Week, themed
and control mechanisms
‘Satark Bharat, Samriddh Bharat’ (Vigilant India,
Prosperous India) from 27th October 2020 to 2nd • Ensuring expert management
November 2020. All employees at SBI have taken • Maximising the interest of the shareholders.
an integrity pledge.
The Bank’s Central Board draws its powers from,
In FY 2020-21, the vigilance department and carries out its functions in compliance with,
conducted 193 preventive vigilance the provisions of SBI Act & Regulations, 1955.
programmes and provided training to As on 31st March 2021, the Board comprised of
3,735 officers. five Executive Directors and eight Non-Executive
Directors.
Ethics and The Bank also conducted suo-motu

investigations in 768 branches to ensure
The average tenure of each member of the board
was approximately 23 months, based on the tenure
Governance
of existing Directors on 31st March 2021. All the
preventive measures are in place.
Non-Executive Directors are eminent professionals
with experience in fields like technology,
accountancy, finance, economics and academia.
Board of Directors
S
BI firmly believes that ethical business SBI also has a Board-approved Code of Conduct for The financial returns and relative financial metrics
practices and transparency are integral its Directors and senior management. It is aimed The Board of Directors of SBI is headed by the used to determine the variable compensation
to optimising its business performance. at ensuring the highest quality of disclosures, Chairman, and is comprised of Managing Directors, of the Executive Directors are defined by the
The Bank established an Ethics and Business confidentiality and fairness in dealings, good Shareholder Directors and Directors nominated by Government of India.
Conduct vertical in 2017 to integrate ethics in corporate governance practices, and optimum the Government of India. As on 31st March 2021,
the operational fabric in a structured manner. The use of the Bank’s resources. Moreover, the Code
vertical reiterates SBI’s commitment to upholding lays down regulations to eliminate any conflicts
the highest standards of integrity and conduct. of interest, and safeguard the interests, safety Board-Level Committees:
and welfare of customers, employees, and other
SBI has developed a Code of Ethics centered on • Executive Committee of the Central Board • IT Strategy Committee of the Board (ITSC)
stakeholders.
its core values. It applies to employees, suppliers, (ECCB) • Corporate Social Responsibility Committee
service providers and subsidiaries. Its effective The Bank is leveraging technology to manage • Audit Committee of the Board (ACB) (CSRC)
implementation is ensured through mechanisms business conduct and discipline. For instance, it • Risk Management Committee of the Board • Nomination and Remuneration Committee
such as systemically defined responsibilities, has instituted the portal Garima, which allows (RMCB) of the Board (NRC)
accountabilities, and reporting lines in each employees to lodge complaints related to sexual
• Stakeholder Relationship Committee (SRC) • Board Committee to Monitor Recovery
division, in addition to dedicated helpdesks, harassment at the workplace. It is among the key
cum Customer Service Committee of the (BCMR)
focal points, hotlines, an ombudsman and elements of SBI’s commitment to nurturing an
Board (CSCB) • Review Committee for Identification of
disciplinary measures. The Code is complemented inclusive and secure workplace for its women
by a robust whistle blower mechanism, which employees. • Special Committee of the Board for Wilful Defaulters/Non-Co-operative
allows employees to voice their concerns with Monitoring of Large Value Frauds (SCBMF) Borrowers
confidentiality and anonymity, without the fear The Bank’s daily email broadcast series also covers
of retribution. Further, the code is enforced by a various aspects related to ethical conduct at the
Vigilance function, which operates under three workplace, to encourage the right behaviour across
primary directives –preventive, participative and the organisation.
punitive. The Bank has also designed and hosted a
All this has helped in ensuring that ethical
digitally certified online certification module on the
transgressions are properly dealt with in a
Code of Ethics on the intranet. No breaches of the
transparent and prompt manner.
Code of Ethics were recorded during the year.
20 | Sustainability Report 2020-21 GRI 102-17 GRI 102-17, GRI 102-18 Sustainability Report 2020-21 | 21
Risk Governance Structure
Central Board (CB)
Risk Management
Committee of the
Board (RMCB) MD (R, C & SARG)
Deputy Managing Director &

Chief Risk Officer
CGM (Risk Management) CGM (CISO)

Risk Governance
The Risk Management approach at SBI is based on 4 key pillars:
DGM (SOC) DGM (ISD)
RISK RISK
IDENTIFICATION MEASUREMENT
DGM
RISK RISK GM GM GM GM DGM DGM
(Portfolio
ASSESSMENT MITIGATION (CRMD) (ORMD) (OrmExe) (EGRMD) (Market Risk) (Basel Impl.) Management)
DGM DGM
(indStudy-I) (EGRM)
Various risks across the Bank are monitored and being implemented with the support of external
DGM
reviewed through Executive-Level Committees consultants to ada pt to global best practices.
(indStudy-II)
and the Risk Management Committee of the
Board. The aim of the committee is to minimise SBI adheres to the RBI’s Basel III Capital
any negative impact of the risks that are faced Regulations. It has put in place an independent risk DGM
by the industry. SBI has prioritised credit risks, governance structure to ensure the independence (RARR)
market risks, liquidity risk, IT risk and operational of risk measurement, monitoring and control
risks, and developed policies and procedures to functions. The key driver of the framework is
measure, assess and monitor them across the technology, which has enabled the identification
portfolio. The Bank has also initiated Enterprise and management of risks at the place of
and Group Risk Management projects, which are origination.

Audit Framework Branch Audits
SBI’s Internal Audit (IA) department undertakes The IA department undertakes critical review
a risk-based audit of the operating units of the of the operations of auditee units through RFIA,
Bank, using several technological interventions for as per RBI directives. During FY 2020-21, it
SBI has been actively working to promote enhancing the efficiency and effectiveness of its audited 12,359 units of domestic branches and
environment-friendly products and practices. audits. These initiatives include: Central Processing Centres (CPCs). Additionally,
Policies have been put in place to increase SBI’s the IA department conducted Evidence Based
exposure to climate change-mitigating industries, • Web-based, online Risk-Focused Internal Audit Compliance Testing (EBCT) in 3,388 branches
which includes relaxations for extending credit (RFIA) identified under Trigger-Based Audit (TBA).
facilities to borrowers in the renewable energy • Analytics-based, continuous assessment of
sector. Details of other audits - such as credit audit,
compliable controls through remote evaluation
information security audit and management audit,
of big data
Compliance Risk Management • System-driven, analytics-based offsite
among others - can be found in the Bank’s Annual
Report.
The Bank’s Compliance Risk Management monitoring of transactions
Committee ensures that all its activities are in line
• Concurrent audit of business units to ensure
with regulatory requirements. The committee
ongoing scrutiny of compliances
is comprised of senior executives from business
verticals and support functions, and maintains • Early review of sanctions to assess quality of
oversight on all compliance-related issues. The loans of `1 crore and above
Bank also regularly carries out compliance testing
of RBI’s regulations and remediation of gaps. • Online self-audit by branches for self-
assessment
Sustainability Governance
SBI has a Sustainability and Business Responsibility
(BR) Policy to adapt and operate efficiently in a
dynamic business landscape. The Policy outlines
the Bank’s approach to managing economic,
environmental and social performance in an
integrated manner. It identifies the Bank’s
environmental and social focus areas, and outlines
Climate-Related Risks the general principles for the implementation of
sustainability initiatives.
SBI has identified climate-related risks that could
have significant impacts on the business. The The responsibility of executing the Bank’s
Bank acknowledges the increasing risks of climate Sustainability and Business Responsibility (BR)
change embedded in its credit asset portfolio, and Policy lies with the Corporate Centre Sustainability
has initiated the process of devising a framework Committee (CCSC). The CCSC comprises of various
for climate risk management in this regard. functional heads, while the Deputy Managing
Additionally, SBI is also in the process of devising Director (HR) and Corporate Development Officer
a framework for identifying and managing risks oversees the Bank’s overall environmental and
arising out of environmental, social and governance social performance. SBI has also constituted a
practices. The Bank is in the process of devising a Corporate Social Responsibility Committee to
framework for integration of ESG risk assessment review the activities undertaken by the Bank under
in overall credit risk assessment, which is currently its CSR Policy.
under review by various business verticals.
24 | Sustainability Report 2020-21 GRI 102-15, GRI 102-18, GRI 102-19, GRI 102-20, GRI 102-26 Sustainability Report 2020-21 | 25
Utilisation of proceeds from green bonds and green loan:
Sr. Project Description Project Location Estimated Emission

No. Reduction (tCO2/year)1
1 50 MW Solar Project Tamil Nadu 77,086
4 50 MW Solar Project Karnataka 82,607
Responsible
7 70 MW Solar Project Andhra Pradesh 107,357
Investment 8
9
30 MW Solar Project
1 MW Solar Project
Andhra Pradesh
Uttar Pradesh
50,991
1,095
at SBI 10
11
1 MW Solar Project
100 MW Solar Project

Rajasthan
Tamil Nadu
1,095
1,53,125
A Investing for Impact

s India’s largest lender, SBI has always 12 100 MW Solar Project Tamil Nadu 1,53,125
worked to amplify its positive impacts,
both directly and indirectly, and mitigate SBI is committed to contributing to the fight 13 100 MW Solar Project Tamil Nadu 1,53,125
any negative impacts of its operations. The against climate change. Over the years, the Bank 14 209 MW Solar Project Tamil Nadu 3,20,031
Bank gives due consideration to environmental, has devised products and services to incentivise
social and governance-related criteria while and ease the transition to environment-friendly 15 100 MW Solar Project Tamil Nadu 1,53,125
making lending decisions, to ensure that funding technologies. These include, but are not limited to:
is directed towards the right institutions. For 16 100 MW Solar Project Tamil Nadu 1,53,125
loans valued between `5 crores and `50 crores, Green Fund 17 Metro Rail Project Hyderabad 15,0002
every borrower is put through an entry-level • Allows users to redeem reward points
Source: 1Grid emission factors from CO2 Baseline Database for the Indian Power Sector User Guide Version 15.0 and Plant Load 2
assessment on various social and environmental towards sustainable activities Factors referred from loan documentation and state utility tariff orders.
criteria. For loans exceeding `50 crores, • Contribution utilised for activities like https://www.ltmetro.com/green-metro/
2
borrowers are assigned scores on the basis of tree plantation, water conservation,
their performance on various ESG parameters. sanitation, renewable energy and
Impetus for Renewable Energy
At SBI, the commitment to responsible waste management
investment also means doing its part to The Bank’s commitment to financing renewable concessions are extended, including but not limited
combat money laundering and the financing energy is evident in its portfolio. Proceeds from to concessions on card rate, waiver of premium,
Green Bonds/Green Loan
of terrorism. The Bank adheres to RBI’s Know green bonds issued by the Bank, as well as the lines increased tenure and a year-long moratorium.
Your Customer norms under the Prevention of • Bonds worth US$800 million have been of credit, have helped SBI provide much-needed These enablers, combined with constant alignment
Money Laundering Act, 2002. This is combined issued since FY 2018-19 thrust to the sector. with the rapidly changing dynamics of the energy
with regular stress-testing of the Bank’s credit • A green loan worth €50 million was landscape, have earned the Bank a leadership
raised in FY 2020-21 The Bank has put in place a Renewable Energy position in the RE financing space.
portfolio to ensure robust risk management and
Policy that incorporates various segments, viz.
responsible lending. • Proceeds utilised in accordance with the
ground-mounted solar power, wind energy, grid- Further, in conjunction with the World Bank, SBI
Bank’s Green Bond Framework to bring
connected rooftop solar power, small hydro has trained 350 of its employees on handling solar
about positive environmental impact
(upto 25 MW) and waste-to-energy. A number of project proposals so far.
LINES OF CREDIT
To amplify its responsible investment activities, SBI has partnered with a number of international banks
and funding agencies. These institutions provide lines of credit, which the Bank uses to fund projects with
positive environmental and social impacts. Some of the existing lines of credit are:
9,137 USD 625 USD 274 million

94 2,093 million from the from KfW German
Windmill Waste-to- Small Hydro
Energy World Bank Development Bank
Amount Signed in 2016, this line of credit is aimed at Affordable housing is a key focus area for the
Sanctioned for enhancing clean energy generation in India. Loans Bank, in line with the tenets of the Pradhan
are extended to install rooftop solar panels, which Mantri Awas Yojana. This line of credit, signed in
Renewable Energy
enable consumers to meet their energy needs in 2016, helps SBI promote affordable housing and
165 (In ` crores)
an environmentally sound manner. support borrowers in the space.
Biomass
18,565
Solar PV USD 300 million USD 214.3 million
(Ground-Mounted)
from KfW German from European
Development Bank Investment Bank
1,864
Solar Rooftop This line of credit allows the Bank to fund projects The EIB extended this line of credit to SBI in 2017
in priority sectors identified by the RBI. Since its with the aim of reducing dependence on fossil
signing in 2015, this line has allowed SBI to extend fuels. Since then, it is being used to fund large
credit to agriculture and allied activities, small greenfield solar energy projects in India, making
The Bank is associated with various industry associations and organisations to drive the renewable energy
businesses, small-scale industries and renewable progress towards the National Solar Mission.
agenda. These include:
energy, among much more.
• International Solar Alliance, which was • Science and Technology for Society (STS)
jointly launched by India and France to Forum, Japan, which explores opportunities USD 277 million USD 177.3 million
address the energy needs of member arising from science and technology to solve from KfW German from KfW German
countries by harnessing solar power the problems facing humankind
Development Bank Development Bank
• Federation of Indian Chambers of • Indo-UK Joint Working Group on Green
Incentivising builders and home loan borrowers This line of credit, which was extended in 2018, is
Commerce and Industry (FICCI) Finance
to opt for energy-efficient alternatives is of aimed at promoting the proliferation of renewable
• Bureau of Energy Efficiency (BEE) • BRICS Business Council Taskforce on Green paramount importance, when it comes to energy in India. It leverages the combined reach
• Confederation of Indian Industries (CII) Financing encouraging sustainability in real estate. This and expertise of the Indo-German Solar Energy
line of credit, which is a part of the Indo-German Partnership to provide funding to renewable
Development Cooperation, has been used since energy projects, aiding the fight against climate
2019 towards this end. change.
Project Finance
The Bank has a dedicated business unit that deals sectors. The infrastructure sector is expected to Solar project in Pavagada Solar Park having waterless robotic cleaning system for panels
with the appraisal and arrangement of funds for experience a fillip, with the creation of the National
infrastructure projects in sectors such as power, Infrastructure Pipeline with an investment of
roads, ports, railways, and airports, amongst others. `140 lakh crores to support 7,700 projects across
sectors. The Bank has recruited experienced
Various sectoral reforms and incentives, along with professionals from different sectors and industries
the Government’s investment in the infrastructure to provide structuring solutions to clients.
sector, have resulted in the inflow of new projects,
particularly in sectors like city gas distribution,
road, and renewable energy, among other
28 | Sustainability Report 2020-21 GRI 102-12 Sustainability Report 2020-21 | 29

SHG Financing Financing Solar Photovoltaic Pump Sets

Self-help groups often result in creating more Solar water pumping systems serve as easy-to-
SBI’s Focus on independent and resilient communities. SBI use, cost-effective, sustainable alternatives to
the SDGs
provides these groups with the funds they need to conventional diesel and electric pumps. SBI helps
generate sustainable livelihoods. Women SHGs fund their purchase and provides a sustainable
are encouraged, in line with the Bank’s push for livelihood for these farmers, while also reducing
Financial institutions can play a significant role gender equality. the environmental footprint.
in building a country’s resilience. To this end,
SBI has constantly worked towards aligning
its products and services with the Sustainable
Development Goals laid down by the UN.
SBI Skill Loan Scheme Compressed Bio Gas (CBG) Under

SATAT Scheme Financing Polyhouse E-Rickshaw Scheme
SBI’s Skill Loan was designed to help
individuals enhance their skills and improve Polyhouse farming is a technique where The increasing mandates around cleaner fuel
SBI provides loans for CBG plants under the
their livelihood. This scheme promotes micro-climate is regulated to enhance yields. have led to a surge in E-rickshaws, which serve
Sustainable Alternative Towards Affordable
opportunities for all and ensures inclusive and SBI is financing such projects to drive progress as an environment-friendly and cost-effective
Transportation (SATAT) scheme. This project
equitable quality education. The loan facility on the goals of zero hunger, good health and mode of transport. As on 31st March 2021,
is aimed at creating large-scale employment
under this scheme is available to people taking wellbeing, sustainable consumption and SBI has sanctioned `14.21 crores towards
for skilled and unskilled people, along with
up courses run by Industrial Training Institutes production, and climate action. E-rickshaws.
sustainable industrialisation, innovation,
(ITIs), polytechnics and training partners reduction in
affiliated with the National Skill Development emissions, and waste
Corporation (NSDC) and Sector Skill Councils, management.
to name a few.
Grid-Connected Rooftop Solar PV Home Loan

Projects Affordable housing is an integral part of a
By funding small projects with a capacity of healthy, happy life. SBI helps people achieve
up to 1MW, this initiative seeks to popularise the dream of owning their house through
the use of renewable energy in commercial its home loans. Additionally, to encourage
SBI e-MUDRA Car Loan
institutions and industry buildings with financial independence in women, the Bank
SBI extends digital term loans up to `50,000 to Through this product, SBI aims to help smaller roofs. Till 31st March 2021, `688.48 provides them with a concession.
help microentrepreneurs meet key requirements customers realise their dream of owning a crores have been sanctioned under this
related to their business, consequently vehicle, while also incentivising sustainability. scheme.
enhancing their employment generation Bank promotes cleaner mobility through the
potential. This product is completely digitised, Green Car Loan scheme by offering a longer
right from application stage to the disbursal, repayment period of up to eight years and
reducing turnaround time and paperwork, and a concession of 20 basis points (bps) on the
improving the overall customer experience. interest rate, compared to a regular car loan.
Healthcare Business Loan
Through this loan product, SBI aims to facilitate access to better care for residents of smaller cities and
villages, resulting in reduced burden on existing facilities and consequently, better healthcare for all. Till
31st March 2021 loans worth `43.18 crores have been sanctioned to customers.

Redesign existing procedures
Stakeholder
Engagement
Enhance performance in areas
Inputs from such as employee engagement,
stakeholders customer experience,
are used to environmental performance and
and
community engagement
Materiality Improve communication with

each stakeholder group and
Assessment
society at large
The Second BFSI Roundtable

Stakeholder Engagement
To discuss SDGs and ESG issues in light of the COVID-19 pandemic, SBI hosted the second roundtable
S
bodies, industry associations, vendors, suppliers, conference on ‘Integrating Sustainable Development Goals in Business Practices’.
BI believes that communicating with its
NGO partners and community members. The
stakeholders transparently and connecting
objective of this exercise is to identify material The attendees, belonging to some of India’s leading financial institutions, provided insight into the
with them meaningfully is crucial to fostering
issues, evaluate the Bank’s operations, products learnings the pandemic has yielded for their respective organisations. The forum agreed on the need
and maintaining strong and long-term relationships
and services, minimise reputational risk, and to develop SDG-related disclosures and establish informal communication channels to help align the
with the entire stakeholder spectrum. The Bank’s
positively influence SBI’s internal and external industry’s sustainability reporting.
activities impact various stakeholders, such as
environment.
its employees, investors, customers, regulatory
Managing
Identification Prioritisation Engagement
Expectations
The Bank identifies The Bank The Bank The Bank

its stakeholders prioritises its connects with enhances its
through stakeholders stakeholders stakeholder
discussion and based on the level through various relationships by
deliberation by the of influence they channels for managing their
Corporate Centre have on SBI’s determining the concerns and
Sustainability decisions and material topics expectations
Committee activities

Mode(s) of Frequency of SBI's Response Mode(s) of Frequency of SBI's Response

Stakeholders Topic(s) of Discussion Stakeholders Topic(s) of Discussion
Engagement Engagement Covered in Engagement Engagement Covered in
Employees Regular meetings Ongoing Career progression Human Capital NGOs and Project assessment Ongoing New areas of intervention Social and
with management Management Community reviews Relationship Capital
Prospects for professional Increased employee
Members Management
Appraisal process development Joint execution of participation
projects
Online surveys Employee welfare schemes
Community
Training and workshops on
welfare
new products and service
programmes
Meetings with
Investors and Webcasts and Ongoing Declaration of dividend Financial Capital
community leaders
Shareholders audio calls Management
Claim-related concerns
Investor
Vendors and Vendor meets Ongoing On-time payments How We Create
conferences
Suppliers Value
Grievance Standardised procurement
redressal processes
Customers Online and Ongoing Enhanced customer Social and
offline feedback service Relationship Capital
mechanism Management
Reduced turnaround time
Digital inclusion
Engage with customers to
initiatives
create product awareness
Customer
Financial literacy camps
satisfaction
(FLCs)
surveys
Increased awareness
about digital banking
Regulatory Meetings to Ongoing Consultation and Ethics and

Bodies discuss mandates feedback for public policy Governance
or regulations development
Industry Participation and Ongoing Collaboration for policy How We Create

Associations discussion during advocacy Value
trade and industry
events
Partnership
with industry
associations for
events
Regular interaction
with industry and
association heads
34 | Sustainability Report 2020-21 GRI 102-40, GRI 102-43, GRI 102-44 GRI 102-40, GRI 102-43, GRI 102-44 Sustainability Report 2020-21 | 35
Materiality Assessment findings from the same have been used to develop
07 08
report content. The material topics identified
This exercise is undertaken to identify material through the exercise are reflected in the content
Stakeholder Awareness Innovative Products
issues and define priorities in an unbiased manner. of this report, and are in accordance with the GRI
on Sustainability and Services
It was carried out during the reporting period, and Standards.
Non-GRI Topic Economic Performance,
103 Indirect Economic Impacts,
Identification Assessment Prioritisation
Internal and External Energy
103, 201-1, 203-2, 302-5
Identifying relevant issues Shortlist material issues based The top-ranking Internal and External
using internal and external on feedback gathered through material topics 09
sources, peer benchmarks, the Bank’s primary stakeholder were evaluated
Ethical Business
GRI Standards and engagement. This is based on a and approved by
Practices
research on global risks comprehensive methodology the CCSC
and opportunities developed to rank the material topics Ethics and Integrity 10
102-16, 102-17
Internal
Products with Positive
Environmental and Social
Impact
Energy
Prioritised Material Topics 11 103, 302-5
02 Employee
External
01 Employee Health and
Engagement
Customer Satisfaction Wellbeing Training and Education, Diversity and
Equal Opportunity, Non-discrimination
Non-GRI Topic Occupational Health and Safety
103, 404-1, 404-2, 405-1, 406-1 Linkage with GRI topics
103 103, 403-8
Internal GRI standard disclosures
External Internal
Material topic boundary
04
03 Data Security and
Sustainable Business Customer Privacy
Strategy Customer Privacy
Strategy, Governance 103, 418-1
102-14, 102-15, 102-26 Internal and External
Internal and External
06
05 Brand and Reputation
Management
Natural Resource
Management Ethics and Integrity, Economic
Performance, Indirect Economic
Energy Impacts, Local Communities
103, 302-1, 302-3, 302-4, 302-5 103, 102-16, 102-17, 103, 201-1, 203-2,
Internal and External 413-1
Internal
36 | Sustainability Report 2020-21 GRI 102-44, GRI 102-47, GRI 102-49, GRI 103-1, GRI 103-3 (All material topics) GRI 102-44, GRI 102-47, GRI 102-49, GRI 103-1, GRI 103-3 (All material topics) Sustainability Report 2020-21 | 37
Our Offerings
As an increasing number of people are entering the formal financial system, it has become important for
banks to cater to the evolving needs of the customers. SBI constantly strives to align its offerings with
customers’ expectations, hence broadening its product and service offerings. This, combined with the Bank’s
push for socioeconomic development, has led to continued improvement in its overall performance.
Domestic Deposits NRI Business

With the growing uncertainties that came SBI has a base of around 36 lakh NRI customers.
with the pandemic, domestic deposits saw a
Financial relatively conservative growth in FY 2020- The Bank has launched new services in FY
21 compared to the previous year. The value 2020-21 for enriching the experience of its NRI
of domestic deposits grew by 14.26% from clientele. These include, but are not limited to,
Capital
31,24,616 crores to 35,70,165 crores. the delivery of automated advice on customer’s
registered email address, missed call banking
Three-Year Performance of Domestic Deposits services through the SBI Quick app and NEFT
Management
or RTGS through YONO.
35,70,165
31,24,616 Three-Year Performance of NRI Deposits
` crores
A
s India’s largest bank, SBI strives to generate economic value in a resilient, responsible and inclusive 28,14,243
manner. Being aware of its sizable operations and the impact it has on the environment and society 2,30,119
has made it more important for SBI to build a strong and consistent narrative on what the Bank
stands for, by creating shared value for society and contributing towards the country’s development. 2,17,675
` crores
2,03,594
SBI’s Economic Performance (in ` crores)
FY 2020-21 FY 2019-20 FY 2018-19 FY21 FY20 FY19
Economic value generated FY21 FY20 FY19

Total income 3,08,647 3,02,545 2,79,644
Economic value distributed
Operating cost (other than employee wages and
31,716 29,459 28,633
benefits)
Employee wages and benefits 50,936 45,715 41,055
Payments to capital providers 3,570 NIL NIL
Payments to government (Net cash outgo on
151 12,086 4,238
account of corporate income tax)
Community investment 145 28 48
Total economic value distributed 86,518 87,288 73,974
Total economic value retained 2,22,129 2,15,257 2,05,670
38 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Economic Performance), GRI 201-1 Sustainability Report 2020-21 | 39
Key Loan Offerings Total Value of Loans Provided in Number of Beneficiaries in

Education Loans
FY 2020-21 (in ` crores) FY 2020-21
SBI strives to enhance customer experience by devising offerings in line with the evolving needs. The Bank’s
loan disbursal process is centered on fair, transparent due diligence of the proposals that it receives. Girl students 2,175 18,770
Scheduled Caste (SC) 112 1,092
Schedule Tribes (ST) 33 352
Other Backward Classes (OBCs) 345 3,598

Auto Loans
Minorities 680 5,266
During the reporting period, SBI recorded more Three-Year Performance of Auto Loans (` in crores)
than 5% year-on-year (YoY) growth in the auto loan 76,322
segment.
The Bank has also come up with the Green Car 72,662
Loan scheme, encouraging customers to switch to
electric vehicles, by offering lower interest rates 71,884
and longer repayment periods of up to eight years.
FY21 FY20 FY19
Personal Loans Real Estate and Housing Loan
In FY 2020-21, SBI extended personal loans SBI has crossed the historic landmark of ` 5 lakh
SBI’s car loan market share has increased to 16.5%, as against (Xpress credit and pension loan) worth `1,26,104 crores for home loan business. To help its existing
14.4% recorded in FY 2019-20. crores to over 31.13 lakh customers, bringing its customers tide over the financial crisis caused by
personal loan portfolio to `2,23,329 crores. The the pandemic, SBI launched a customised ‘Special
Bank has leveraged its digital platform, YONO, Top-Up’ scheme. In-house contactless digital
for extending personal loans to its customers. platforms like Customer Relationship Management
Using this feature, `16,569 crores of personal (CRM) portal and YONO are being promoted
Education Loans loans (Xpress credit and pension loan) were extensively as tools to maximise the home loan
disbursed in the current reporting period. business and further boost SBI’s market share.
Access to high-quality education is the key to human capital development and economic
growth. The Bank recognises the role that funding education can help in building resilient Three-Year Performance of Personal Loans Three-Year Performance of Home and Home-
and productive human resources, in addition to contributing towards the fulfilment of (` in crores) Related Loan Portfolio (` in crores)
SDG 4 (Quality Education).
2,23,329 5,03,779
This year, the Bank has helped 47,959 meritorious students realise their dreams by
providing financial assistance to the tune of `5,980 crores.
1,96,189 4,55,865
Three-Year Performance of Education Loans (` in crores)

1,53,698 4,00,377
23,504
FY21 FY20 FY19 FY21 FY20 FY19
22,883
20,777
FY21 FY20 FY19

The Bank has undertaken a series of Financial SBI has set up 341 Financial Literacy Centres,
Rural Banking Support for SMEs Inclusion (FI) initiatives, which embody its ethos through which 11,943 financial literacy camps
of inclusive growth and customer outreach across with 3.64 lakh participants were conducted in the
With two-thirds of India’s population With the growing emphasis on Make in India, different segments of society. reporting period.
residing in rural areas, helping them SMEs are playing an increasingly important role
achieve financial empowerment is integral to the in furthering India’s manufacturing, employment SBI has played an active part in the implementation Rural Self-Employment Training
of schemes such as Pradhan Mantri Jan-Dhan
development of the country. Additionally, this generation and exports, making them a prime area
Yojana (PMJDY), PM Kisan Samman Nidhi Yojana,
Institutes (RSETIs)
demographic also presents a huge opportunity for the Bank to support.
for the banking sector. The Bank has a network of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) RSETIs aim to empower rural youth through skill
nearly 8,000 rural branches across the country. SBI has also developed the e-Mudra application and Atal Pension Yojana (APY), among others. development and training, thereby creating means
to streamline and enhance the loan process. This Contribution to As on 31st for sustainable livelihoods. As on 31st March 2021,
Additionally, State Bank of India has an extensive application facilitates appraisal, sanction and Government Schemes March 2021 SBI has set up 152 RSETIs, contributing to 26% of
network of sponsored Regional Rural Banks (RRBs), disbursal of loans up to `50,000, in compliance with the functional RSETIs in the country. Despite the
PMJDY Accounts 12.85 crores
which give it a distinct competitive advantage due all the norms of the Mudra loan (Shishu category). COVID-19 pandemic, these RSETIs have trained
to their presence and user base in these areas. PMJDY Deposits `36,834 crores 66,260 candidates and achieved 107% of the
Three-Year Performance of SME Advances annual training target set by the Ministry of Rural
PMJJBY Enrolments 1.85 crores
(` in crores) Development during the current financial year.
PMSBY Enrolments 5.64 crores
2,78,949
Agri Business APY Enrolments 60.03 lakhs
Rural Self-Employment Cumulative
Training Institutes (RSETIs) Since 2011
SBI recognises the importance 2,67,614
of providing credit support to
Customer Service Points No. of RSETIs 152
2,88,583 No. of Training Programmes
the agriculture sector. SBI stood The Bank has Customer Service Points (CSPs), 32,526
Conducted
alongside farmers during the which play a significant role in bolstering financial
pandemic by offering borrowers additional credit FY21 FY20 FY19 No. of Youth Trained 8,69,278
inclusion. These are integral in providing access to
lines to meet immediate needs. Moreover, the Bank banking products and services in unbanked areas of % Candidates Settled 70.66%
extended interest deferment facility and provided the country. A total of 71,968 CSPs have been set
moratoriums on EMIs and term loan installments to This year, a total of 74,461 loans amounting up by SBI, helping reduce footfall in the branches. For FY 2020-21
extend support to the sector in these testing times. to `347.83 crores have been disbursed This year, approximately 58.78 crore transactions
under the e-Mudra scheme for financing % of female candidates
The Bank has onboarded 44 Farmer Producer amounting to `2,52,470 crores were recorded, 82.82%
among total trained
Companies (FPCs) to extend support to sustainable micro enterprises. translating to more than 16 lakh transactions per
farming practices. Apart from this, it observed day on an average. % of rural poor candidates
85.79%
World Soil Day and Kisan Diwas with the farmers among total trained
to thank them for their trust in SBI. Financial Inclusion Micro Credit (SHG-Bank Linkage)
(in ` crores) and Contribution to SBI is constantly working with the National and
FY 2020- FY 2019- FY 2018- Government Schemes State Rural Livelihoods Missions to provide credit
to SHGs, which allows members to generate
21 20 19
SBI has an unwavering commitment to ushering incomes and fulfil needs like housing and education.
Total Agri in inclusive growth and social cohesion, which it
2,14,151 2,06,067 2,02,681 SBI continues to have the highest market share
Advances
drives by empowering vulnerable groups of society. in SHG-credit linkage among all banks catering to
YoY Growth 8,084 3,386 14,430 Giving marginalised sections of society access to 7.83 lakh as of March 2021, covering more than 75
formal credit and financial services prevents their lakh women members.
% YoY
3.92 1.67 7.67 exploitation and helps them break free of the vicious
Growth Financial Literacy
cycle of poverty.
SBI recognises the need to create awareness

when it comes to lifting people out of poverty and RSETI trainees making masks to aid the fight
ushering in prosperity. Taking cognizance of this, against COVID-19
42 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Indirect Economic Impacts), GRI 203-2 Sustainability Report 2020-21 | 43
Managing SBI’s Environmental Impact
Green Buildings Tree Plantation

SBI has constantly been working to ensure SBI’s Maharashtra circle undertook a tree
world-class facilities with a minimal impact plantation drive in December 2020. A total of
on the environment. The Bank has directed 10,000 silver oak trees were planted and larger
its efforts towards ensuring energy efficiency, environmental initiatives were addressed to
health and comfort, and responsible resource create global sustainability awareness.
management at its facilities. It has received
Natural
certification from the Indian Green Building
Council (IGBC) for eight of its establishments
that have incorporated eco-friendly initiatives
Capital
have received certifications from the IGBC.
This year, the State Bank Bhavan’s IGBC
rating was upgraded to ‘Gold’ from ‘Silver’,
serving as a testament to SBI’s commitment
Management to sustainability.
T SBI’s Climate Strategy

he growing importance of managing
environmental and social impacts has
led organisations across the world The Bank’s aim to become carbon neutral by 2030
to continuously enhance their initiatives to is a key tenet of its climate strategy. In this regard,
lend momentum to sustainable development. it has taken a number of initiatives to reduce its
Mainstreaming environmental and social carbon impact, including – but not limited to – the
parameters into SBI’s business has long been a installation of solar power plants, plantation of
priority for the Bank. Keeping in mind its wide various trees, organic farming and banning the
reach, the Bank is cognizant of the impacts it use of single-use plastic on campus. It is also in the
may have on the environment. It has, therefore, process of identifying any climate risks that have
taken a twofold approach towards managing its the potential to generate a substantive change in
natural capital – managing the impact of its own its business.
World Soil Day
operations, and directing its funding towards SBI has constantly worked to raise awareness about the
climate action by mitigating sectors through importance of various sustainability-related issues. Keeping
responsible investment. this in mind, the Bank observes World Soil Day annually on
5th December. This helps draw attention to the importance of
healthy soil, and advocate for the sustainable management of soil
resources. World Soil Day 2020 was observed with the theme
‘Keep Soil Alive, Protect Soil Biodiversity’. This helped the Bank
The Bureau of Energy Efficiency awarded a 4-star rating in emphasise the increasing challenges of soil management, and
composite climate zone to State Bank Institute of Credit & create awareness about the importance of healthy ecosystems
Risk Management (SBICRM), Gurugram in the category of and human wellbeing. SBI is committed to the development
office buildings. of agriculture and ushering in prosperity for farmers across
the country. This is constantly reinforced by demonstrating a
commitment to environmental sustainability and strengthening
the Bank’s bond with local farming communities.
Sustainability Report 2020-21 | 45

44 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Energy, Emissions) Sustainability Report 2020-21 | 45
Energy Consumption and spent on energy consumption during the reporting Energy Conservation Initiatives
year, which corresponded to approximately
Management 5.07 million GJ of electricity consumption and The Bank’s energy conservation initiatives play a
0.79 million GJ of diesel consumption. Emission significant role to help it overcome the challenges
SBI endeavours to foster energy conservation,
calculations are based on the expenditure posed by climate change and make progress on
utilisation of clean energy and reduction in GHG
incurred on business travel, energy, fuel and paper its carbon neutrality journey. A number of steps
emissions. Energy consumed by the Bank primarily
consumption. have been carried out by the Bank in order to help
consists of purchased electricity. It has installed
reduce its energy consumption. These include:
rooftop solar panels across several premises, SBI’s Energy Consumption
including the Corporate Centre and Local Head Source FY 2020-21 FY 2019-20 FY 2018-19 • Installation of IPM+ desktop software:
Offices (LHOs). This has helped the Bank reduce (GJ) (GJ) (GJ) An intelligent power management utility SBI has partnered on Vikaasa, powered
its dependency on fossil fuels. A significant volume software, IPM+, has been introduced by SBI.
Diesel 7,90,806 8,75,022 7,89,900 by Xynteo, to address the issue of waste
of wind power is also consumed by SBI’s Global IT This software has been installed since May management in India. Vikaasa is a purpose-
Centre (GITC) in Mumbai. Grid 50,70,995 46,25,287 51,07,465 2016 on all office desktops across the nation, driven coalition of forward-leaning
electricity and is used for optimising the distribution and organisations that collaborate to accelerate
use of electrical power in data centres and India’s progress on the UN Sustainable
Total 58,61,801 55,00,309 58,97,365
Replacement of Generator Sets computer systems. IPM+ has helped the Bank Development Goals.
Total Emissions According to Source successfully drive energy savings of around
The Bank has initiated the replacement of
8.59 GWh in the reporting period, which SBI Foundation has partnered to bring in
generator sets with solar power-backed Source FY 2020-21 FY 2019-20 FY 2018-19 directly relates to avoidance of 8,590.66 metric catalytic investments to scale the Waste
uninterruptible power supply systems at (tCO2e) (tCO2e) (tCO2e) tonnes of GHG emissions, saving 8,16,113.07 No More project in Mumbai. It focusses
rural and semi-urban branches. This, which
Diesel 58,791 65,052 58,724 cubic metre water and leading to a cost saving on building an inclusive circular economy
has been undertaken on a pilot basis six
of `8.59 crores. by setting up a material recovery facility,
circles, has completely eliminated the need Grid 11,69,146 10,66,386 11,63,367 establishing connections with the informal
for generators, not only aiding SBI in its electricity • Branch Server Consolidation (BSC): This sector and empowering communities.
carbon neutrality journey, but also reducing project intends to consolidate all the Bank’s
Total 12,27,937 11,31,438 12,22,091 Since the inception of the pilot project in
the Bank’s operational cost. All routine physical servers to a centralised, secure January 2020, 450 MT of dry waste has
maintenance activities, including battery and virtual location. A consolidated total
SBI’s GHG Emissions been collected and responsibly disposed.
replacement, are planned through a remote of 24,800+ servers have been migrated as The vision is to expand and scale its success
monitoring system that is available round Scope FY 2020-21 FY 2019-20 FY 2018-19
of 31st March 2021, helping SBI reduce its across India by diverting two million
the clock. It has also been observed that the (tCO2e) (tCO2e) (tCO2e)
energy requirements and increase space for tonnes of plastic waste from landfills
seamless and uninterrupted supply of clean Scope 1 553 390 418 branch operations. This project has led to cost and waterways. It also places emphasis
energy has increased the lifespan of devices savings on account of the reduction in cooling
Scope 2 11,69,146 10,66,386 11,63,367 on increasing livelihood opportunities,
like lights, fans, computers and printers. requirements, and eliminated the maintenance along with creating awareness around
Scope 3 1,35,811 1,92,459 1,81,822 expenses for servers. responsible waste management, and health
Total 13,05,510 12,59,236 13,45,607 and hygiene.
Waste Management
Emission Intensity
SBI has increased its focus on waste management
Source FY 2020-21 FY 2019-20 FY 2018-19 during the reporting period. A key initiative of
(tCO2e/FTE) (tCO2e/FTE) (tCO2e/FTE)
installing waste segregation as well as compositing
Scope 1 0.002 0.002 0.002 units across all the offices and LHOs has been
Scope 2 undertaken by the Bank. As on 31st March 2021, a
4.76 4.27 4.53
total of 73 waste management units have been set
Solar installation under the initiative at Pungro Scope 3 0.55 0.77 0.71 up across the Bank’s various branches, offices and
Branch in the Bank’s North East Circle other establishments.
Total 5.31 5.05 5.24
The current captive RE power capacity of SBI is Scope 3 emissions are estimated considering work-
approximately 35 MWp and the Bank continues to related travel via rental car, bus, rail and air, third-
increase it. An amount of `1,095.04 crore has been party diesel generators and paper consumption.
46 | Sustainability Report 2020-21 GRI 302-1, GRI 302-3, GRI 305-1, GRI 305-2, GRI 305-3, 305-4 GRI 302-4, GRI 305-5 Sustainability Report 2020-21 | 47
Water Management Pre-Approved Personal Loans as employees, and helps the Bank significantly
reduce its carbon footprint.
Conscious efforts have been undertaken by The YONO application has helped SBI reduce
SBI to strengthen its efforts to reduce water numerous branch visits and the use of paper. This year, the Green PIN initiative has helped SBI
consumption. Constant awareness among This app helps in the swift processing of pre- indirectly save a total of approximately 187.20 MT
employees with regards to water management has approved personal loans (PAPLs) without the of paper through the generation of over 3.90 crore
helped SBI in its efforts. 266 rainwater harvesting need for lengthy physical documentation. In Green PINs through SMS and internet banking.
systems have been set up across branches, offices FY 2020-21, 13.57 lakh PAPLs were given out, Considering the lifecycle of paper, this is estimated
and other establishments, as on 31st March 2021. leading to an indirect saving of approximately to have reduced water consumption by 16,693.66
4.47 crore sheets of paper. Additionally, m3 and lowered waste generation and carbon
taking into consideration the lifecycle of paper emissions by around 110.22 MT and 1,783.42
sheets, SBI has estimated to have reduced tCO2e, respectively.
water consumption by over 26,800 m3, waste
generation by around 177 MT and carbon
Fraud Angle Examination Workflow
emissions by 2,047.77 tCO2e. To ensure reduction in fraud loan accounts and
non-performing assets, SBI launched an application
Water Recycling at SBICB Green Channel Counters (GCCs)
in FY 2019-20. This application also helps reduce
A wastewater recycling plant has been set up workflow process time and paper usage.
GCCs are installed at all retail branches in
at State Bank Institute of Consumer Banking
India and include services like cash withdrawal,
(SBICB), Hyderabad, to recycle wastewater
cash deposit, internal funds transfer, balance
Roll-Out of Easy Approval Application
from the hostel and administrative blocks for Online Approval of Notes
enquiry, Green PIN generation and change, and
for irrigating the gardens. Moreover, a
mini-statement. This initiative by SBI seeks to
few initiatives have been implemented to The Bank has introduced the Easy Approval
replace traditional paper-based banking with
minimise the consumption of water and save application in all offices, including the Corporate
card-based ‘green banking’ focussed on saving
groundwater. These include connecting the Center, other CC establishments as well as LHOs.
paper.
drip irrigation and water sprinkler systems This has resulted in a substantial increase in SBI’s
to the water recycling plant. A significant Green Remit Cards (GRCs) operational efficiency. During FY 2020-21, a total
reduction of 50% in the campus’ water of 1,10,323 notes have been approved through
consumption has been noted due to this. The Green Remit Card by SBI is a magstripe- Easy Approval.
based card without a PIN. It can be used to
deposit cash using GCCs, CDMs or ADWMs to Litigation Management System
the designated beneficiary’s SBI account. On an (LITMAS)
Resource Management average, over one lakh transactions in FY 2020-
An application has been introduced by SBI to
Outsourcing of Record Management 21 were directed through GRCs each day.
Rainwater Harvesting reduce the usage of paper. LITMAS is a software
Project Green PINs system that maintains records of all litigations
Measures for rainwater harvesting have been
related to SBI.
undertaken at various branches and offices SBI has outsourced the storage of record Green PIN was introduced to minimise visits
across the country. The Bank’s rainwater management, as all its internal Data Archival to the branch for submitting requests for
harvesting systems store captured water in Centres (DACs) are operating at full capacity. regeneration of ATM PIN, and any consequent
underground tanks or as surface water ponds. These come with enhanced security features, and delays. It is a convenient method of generating
The stored water is then used to fulfil have enabled the freeing up of space at branches, debit card PIN through various channels like
domestic requirements, in addition to administrative offices and internal DACs, which ATM, internet banking, IVR and SMS. This
landscaping efforts. This initiative was can be put to other use or surrendered for cost- initiative yields benefits for customers as well
implemented keeping in mind water scarcity saving. It has also relieved branch staff from record
in various areas and the need to ensure maintenance.
the availability of water. They have helped
During the year, vendor selection was completed
the Bank overcome water shortage in the
and the storage has started at 13 Outsourced
summer.
DACs (ODACs).
Equal Opportunity, Diversity and Male Female

Inclusion Officers 85,847 22,925
SBI remains committed to fostering a strong culture Associates (clerical staff) 63,457 37,339
of diversity and inclusivity that can drive growth and Subordinate staff and
32,664 3,420
development. These key tenets are an integral part others
of the Bank’s human capital management approach.
Associates Sub-Staff
SBI believes in creating a fair, secure and transparent Officers
(clerical staff) and others
workplace free from any form of discrimination
SCs 19,555 16,237 8,857
and harassment. It is an equal opportunity
employer, and ensures fairness in the process of STs 9,098 8,090 2,288
hiring, compensation and employee performance OBCs 22,973 26,159 8,915
evaluation. As on 31st March 2021, the Bank’s DAPs 2,128 2,340 214
workforce comprised of 25.92% women.
Human Capital Management SAMYA from SBICB - Promoting Gender Equity
S Overview of SBI’s Human

BI believes that employees can deliver a great
customer experience and sustained value
creation when they are engaged and inspired Capital
to make a difference. Employees are the Bank’s
strength, and will be pivotal in helping it thrive in Workforce as on 31st March 2021
the face of evolving technology, regulations and
customer demand.
Associates
SBI sees its employees as key stakeholders whose (clerical
expertise and creativity are essential to the Bank’s staff)
future development. It is making efforts for the SAMYA is an initiative to promote gender
effective designing and implementation of various
equity within the organisation. It started with
HR policies, procedures and programmes to
addressing all staff members by circulating
develop and manage knowledge, skills, creativity, Total
1,08,772 1,00,796 36,084 caselets every fortnight. These depicted
aptitude and talent optimally. The focus of the Bank 2,45,652
has moved to the strategic utilisation of employees subtle behaviours and expressions that were
and measurable impact of their performance on reflective of gender bias. The caselets aimed at
business. The Bank continuously aligns its HR enabling employees to identify and eliminate
strategies with the ever-changing aspirations of their subconscious biases. This was followed
Subordinate
its workforce to increase efficiency and promote a Officers by a two-part webinar for senior officials, on
staff and
participative work culture in the organisation. others gender sensitivity and prevention and redressal
mechanisms available.
GRI 102-7, GRI 102-8, GRI 103-1, GRI 103-2 GRI 102-8, GRI 103-1, GRI 103-2
50 | Sustainability Report 2020-21 (Training and Education, Diversity and Equal Opportunity) (Diversity and Equal Opportunity, Non-discrimination), GRI 405-1 Sustainability Report 2020-21 | 51
A Virtual Power Talk on Gender Equality

Talent Management SBI utilised the pandemic-engendered limitations
to enhance the user experience with online
A virtual power talk on gender equality by The identification and development of high- learning. It promoted the pull mode of learning,
the Hon’ble Governor of Telangana and potential employees plays an important role in impart new skills and broaden knowledge
Hon’ble Lieutenant Governor of Puducherry ensuring the Bank’s sustained business success. horizons of its workforce. Through its initiatives,
was held by the Bank. The Hon’ble Governor This improves the development and career the Bank has earned global recognition, while
stressed on the need for higher education, opportunities of the employees themselves, while simultaneously enabling consistent delivery of
skill development and entrepreneurship to also contributing to proactive and qualitative sophisticated and interesting learning experiences.
promote gender parity. personnel planning, and the promotion and
retention of its key employees.
Women Representation in Management Positions as on 31st March 2021 The Bank is actively recruiting specialised talent
on a lateral or contractual basis in the areas of Best Use of Blended Learning
Employee Level Female
wealth management, IT, information security,
Senior Management and Top Executive Grade 1,842 risk and credit, among others. This helps meet
the demands of the fast-changing business and
Middle Management 14,793 regulatory landscape. For entry-level positions, SBI
has selected 2,892 Circle-based Officers, 2,003 Best Learning Programme
Junior Management 6,103
Probationary Officers and 7,897 Junior Associates Supporting a Change
in FY 2020-21. The lateral recruitment process Transformation Business
International Women’s Day at SBI during this period resulted in the selection of Strategy
261 candidates. For vacancies in managerial and
executive positions at various grades in FY 2020-
21, 14,102 internal candidates were promoted,
offering them with opportunities for growth and
development. Best Unique or Innovative
Learning and Development
As part of its recruitment process, the Bank Programme
reaches out to a wider pool of candidates using
digital platforms widely. Advertisements are
published on job portals and social media. Making
use of social and digital media in the hiring process
has enabled the Bank to reach out to a larger
pool of tech-savvy aspiring candidates. The Bank
has also tied up with professional bodies such as
58
Average Training Hours
the Institute of Chartered Accountants of India Per FTE
(ICAI), in order to reach out to a wider talent pool
for specialist positions. During the pandemic, SBI
Employee Participation in Training Programmes
utilised its IT platform and conducted interviews
(Unique Participants)
through video conferencing, to ensure social
distancing.
Officers (Generalist cadre) 78,836
SBI remains committed to being an organisation therefore, has a zero-tolerance policy in place on
Training and Development Officers (Specialist cadre) 5,540
with a strong respect for human rights and ethically discrimination and sexual harassment. SBI operates in a skill and knowledge driven Associates 55,300
sound business practices for employees. The Bank sector, where the competitive advantage lies in the
This year, 45 complaints were registered on the Sub-staff 3,473
has developed guidelines in its Sustainability and knowledge and skills of its employees. The Bank’s
Business Responsibility (BR) Policy that are in Garima platform, adding to 10 pending complaints
response to the pandemic is an optimised and Contractual and others 414
alignment with internationally recognised human from last year. As on 31st March 2021, 49
resilient training system, strategically tuned in to
rights policies. SBI is intolerant towards any complaints were resolved, while 6 were in various Total 1,43,563
the long-term business goals.
kind of workplace human rights violations and, stages of resolution.
52 | Sustainability Report 2020-21 GRI 406-1 GRI 103-1, GRI 103-2 (Training and Education), GRI 404-1 Sustainability Report 2020-21 | 53
Trainings during the reporting year focused on ASTITVA: Online Tutorial on Sustainability • Post-Doctoral Research Fellows were
the adaptive transformation of SBI. A team of leveraged as academic representatives to
Industry Connect To promote sustainable behaviour throughout
475+ in-house educators and banking experts establish unique credentials into applied
at the six Apex Training Institutes (ATIs) and 51 the organisation. SBI has launched ASTITVA, an leadership training. They also networked to
• Collaborated with prestigious
Regional Institutes of L&D (SBILDs) created a online tutorial to sensitise its staff on current connect to global clientele and international
organisations such as ICAI, FEDAI
resilient online training network to foster learner sustainability issues, UN SDGs and sustainability thought leaders.
and CARE to conduct specialised
interest and ensure retention through videos, pre- measures adopted by the Bank. Over 95% of
programmes for employee
reads, case studies, quizzes, and interactive and eligible employees have completed this tutorial as Partnership to Boost Learning
recorded webinars. The faculty was thoroughly • Inked an MoU for strategic collaboration on 31st March 2021.
SBI has partnered with edX, a non-profit Massive
trained in delivering effective and engaging in executive education
Trainings for New Recruits Open Online Course (MOOC) provider established
online interactions through external trainings and
• The Bank has also entered several MoUs in 2012 by Harvard and MIT. The three inaugural
simulation courses. To provide seamless learning during the pandemic,
as part of its University Connect for the courses included those relating to creativity,
training curricula for Probationary Officers and relationship marketing and conflict resolution.
collaborative training of students
Trainee Officers are modelled into online induction SBI has successfully launched 13 MOOCs in
• Signed an MoU with the Center for programnes, video clips, quizzes, presentations and partnership with edX.
The Bank has introduced an in-house,
Creative Leadership (CCL), a top-ranked, knowledge capsules. Regular interactive webinars
automated centralised training calendar
global executive education provider to with faculty have been introduced to support
management system. This resulted in an
collaborate for executive education, and virtual trainings. The Bank has also introduced a
enhanced interface between employees
conduct co-branded programmes similar training curriculum on the virtual platform
and faculty, with nearly..
for onboarding Junior Associates.
Gamification of Learning
51,000 webinars successfully Aiming to enhance operations and achieve service
excellence, SBI has introduced and upgraded • My Quest Today has been launched as a
conducted
numerous training programmes during the knowledge refresher on the Bank’s guidelines.
More than 73% of staff having at reporting year. The daily quiz platform contains brain teasers
Building a Strong Executive Team
least one live interaction with the for engaging employees and improving
SAMUNNATI: Participative Coaching retention on topics like corporate and retail • SBI is working towards building organisational
faculty
Intervention for Branches credit, new developments in the Bank, and readiness and resilience for long-term
~11 webinars attended by each current affairs. This portal was accessed by challenges. To ensure this, the Bank has made
SAMUNNATI, a coaching intervention based more than 90,000 employees in the reporting
employee in FY 2020-21. a basket of edX courses mandatory for its top
on the action research model, has been rolled period. executive team. This year, eight contemporary
out to support the branches in becoming
courses have been added to the repertoire.
more goal-driven and competitive. This model • 10 gamified e-lessons in essential domains
Role-Based Certification (RBC) for
involves participation of the unit undergoing such as digital transformation, leadership • To make a positive difference in the economic
employees
transformation. It is a dynamic approach in which development, information security and cyber landscape, the Bank requires skillful handling
SBI has developed the e-RBC technology initiative problem identification, planning, action and security, and compliance were created for all of its credit portfolio while dealing with off-
for online delivery of its role-based certification impact assessment are interlinked. As part of this employees up to the AGM level for promoting beat situations. As a result, all business leaders
programmes for more than 2 lakh employees. initiative, faculty members of regional learning and ethically sound business practices suited to of the DGM rank have received intensive
Furthermore, the basket of programmes has been development (L&D) institutes have adopted one the new paradigms. During the year, 95% training in solution-oriented credit decision-
modified to include 45 in-house certifications and branch each, to extend guidance for viable growth eligible employees completed the 10 gamified making.
41 external credentials, in line with current skill models and case studies post-completion. e-lessons.
requirements. Collaborative accreditations were • An online assessment centre has been created
ANWESHAN: Facilitating Sharing of Research Building the Research Quotient to gauge executives’ leadership aptitude.
designed and rolled out for niche areas like digital
Findings Each participant is provided with individual
banking and leadership. During the year, 96% • Research wings at ATIs have partnered with
officers and 98% associate staff have cleared their development plans, charting areas of strength
This year, SBI launched ANWESHAN, an various business units for 51 relevant and
RBCs through online mode. and development with respect to leadership
e-publication for disseminating best practices practical studies to rapidly translate the
competencies required by the Bank.
uncovered during various in-house operational ongoing changes in the financial ecosystem into
studies for informed decision-making and a competitive advantage.
improved business outcomes across the Bank.
54 | Sustainability Report 2020-21 GRI 404-2 GRI 404-2, GRI 103-1, GRI 103-2 (Stakeholder Awareness on Sustainability) Sustainability Report 2020-21 | 55
Employee Health, Safety and Wellbeing

SBI continues to focus on strengthening its policies,
systems and processes to ensure the safety of its
employees, regardless of any unexpected events. Installation of Sanibin Services
While the risk of major health and safety incidents
SBI introduced Sanibin services for its
is relatively low in the BFSI sector, SBI is committed
employees in Pune. Sanibin is a product of
to minimising this risk to ensure zero work-related
PadCare that provides safe, accessible, and
injuries and fatalities.
eco-friendly waste disposal and recycling
The Bank has identified ergonomic stress, lifestyle solution of menstrual hygiene products
diseases and mental stress, in addition to work-related through institutional organisations. The pilot
hazards like fire, electrical shock and other building project impacted 400 women in a month,
safety-related issues as significant occupational health leading to a material recovery of 220 kgs
and safety risks to its employees. To ensure that all and carbon savings to the tune of 1.2MT per
employees are aware of vital health and safety aspects, month.
the Bank conducts awareness programmes on the
issues that they might encounter, both at work and
at home, and provides methods to effectively deal
with it. Further, it works closely with employees and
management to strengthen the occupational health
Uniform training programme for induction and mid-level training of public sector bank officials launched by and safety management system, which is aligned
Hon’ble Finance Minister with legal requirements and covers all the permanent
Leadership and Succession Planning Performance Management and Reward employees of the Bank.
System The absentee rate of the Bank’s employees during the
SBI has adopted the branch manpower model
for manpower planning and to ensure optimal reporting period was 0.45%.
The Bank wants to retain its talented employees
utilisation of human resources. and help them realise their potential. SBI’s
Regular Yoga Sessions at SBIL, Kolkata
reward programmes impart employees with the
SBI’s Career Development System (CDS) The Bank has conducted several webinars during the
knowledge, competencies and behaviours needed
under Project Saksham has ensured a credible year, to keep employees healthy and engaged during the
for business success. It has introduced platforms
data-backed performance evaluation process COVID-19 pandemic. These include sessions on staying
like the Chairman’s Club and MDs’ clubs to
for its employees through a detailed annual fit, putting one’s mind at ease, building mental resilience,
recognise employees’ remarkable performance.
competency mapping framework. The system nutrition, and stress management, to name a few.
ensures strong accountability, performance
visibility and greater alignment between
Care and Support for Retired Employees
individual and organisational goals.
The Bank has in place a policy on succession e-Pharmacy MYHRMS

planning for senior leadership positions to
ensure smooth transition. The key outcomes SBI has launched a new scheme called MyHRMS is an application used by
of succession planning are used to prepare and e-Pharmacy for providing healthcare facilities retired SBI employees to keep track of
update development and training programmes. CHAIRMAN’S to retirees, through the URWORLD application. their pension. Retired employees can
CLUB AWARDS In conjunction with a leading insurance keep a record of the pension payments
provider, the Bank is providing pharmacy credited to their account through the
2019 - 2020
services to members of an annual payment app. The app enables them to submit
plan (APP). Members can purchase medicines their life certificate through video-based
through URWORLD by uploading a valid identification without visiting the branch.
prescription issued by a registered medical
practitioner.
GRI 103-1, GRI 103-2 (Occupational Health and Safety), GRI 403-1, GRI 403-2,
GRI 403-3, GRI 403-4, GRI 403-5, GRI 403-6, GRI 403-7, GRI 403-8
Employee Engagement Marking the 72nd Republic Day of India

During the year, the Bank conducted inter-
circle sports tournaments, photography
SBI believes that proactive engagement with all competitions, poster-making competitions and
employees contributes to enhanced productivity, essay competitions, among other employee
creativity and satisfaction. engagement activities.
The Bank also observed ‘Constitution Day’ on

SBI Wizards - Fostering Positivity 26th November 2020 at all circles. The staff
and Emotional Wellbeing members participated in the celebration with full
enthusiasm.
SBI Children’s Welfare Fund

In line with the belief that charity begins at
home, the Bank established the SBI Children’s
Welfare Fund in 1983. Created using voluntary
For the 72nd Republic Day, staff members contribution from the Bank’s staff, interest
across circles presented a musical on the corpus is used to support institutions
65th State Bank Day 2020 – First Ever working towards the welfare of underprivileged
dedication to the nation, which was
launched at the Bank’s Corporate Centre. Virtual Talent Hunt and orphaned children. In FY 2020-21, SBI’s
An online quiz event SBI Wizards was They wrote the lyrics, sang and composed employees contributed `54 lakhs to this fund and
rolled out during the year. The quiz was the special song. The video was shared on the Bank donated `64 lakhs to eight institutions
a first-of-its-kind hybrid event that was SBI’s social media pages. across the country.
partly self-paced, online and physical.
The video received an overwhelming
Participation was extended to include one
response from staff members and visitors
family member of each employee, and
on social media. Employee Grievances
engage them as well.
The Bank operates under a set of internal policies
that ensure a respectful work environment.
Employee grievances, including those from retired
Karmveer - Recognising and Motivating International Yoga Day employees, are gathered through the Sanjeevani
Workmen helpline. It also offers counsellor support, a
measure expected to boost employee morale.
During the year, 4,866 grievances were raised
through this helpline. Of these, 4,754 have been
resolved, while the resolution of 112 complaints
was underway as on 31st March 2021.
Freedom of Association
SBI celebrated its grand 65th virtual Bank
Day event with great enthusiasm and SBI recognises the right to freedom of association
vigour on 1st July 2020. As a part of this that allows employees to communicate positively
SBIL Kolkata has instituted an award event, SBI initiated a Bank-wide virtual with the management. Around 91.8% eligible
named Karmveer, to recognise the efforts talent hunt to explore the extraordinary officers and 92.9% associates and sub-staff are
of workmen and motivate them. Under this talents of its employees through various represented by a trade union or covered by
scheme, a few workmen are recognised and SBI observed International Yoga Day on 21st competitions. The jury members included collective bargaining agreements
felicitated in an in-house function every June 2020 with the theme of ‘Yoga at Home the Chairman, Managing Directors and
quarter. and Yoga with Family’. their spouses.

This year, enhancing the resilience of beneficiaries

was the key agenda of the Bank, which directed Enhancing Access to Healthcare
its CSR efforts towards healthcare, education,
Social and skill development, livelihood, sports, protection of

national heritage and environmental sustainability.
Special emphasis was also given to uplifting and
Relationship
empowering armed forces veterans, women, youth
and senior citizens.
Capital The right infrastructure is crucial to ensuring
Management
that high-quality healthcare is accessible
Healthcare to all. The Kolkata Circle extended its
support to Dakshineswar Ramkrishna
Accessible, affordable and good quality healthcare Sangha Adyapeath, by donating a force trax
is the bedrock of a resilient society. Through its ambulance to the institution.
S
BI’s stakeholders lie at the heart of its Community Stewardship CSR initiatives, the Bank is constantly working
success. The Bank’s customers, partners to ensure these by providing the requisite
Social responsibility is deeply ingrained in the
and the communities it operates within have infrastructure to hospitals, and NGOs and trusts
stood by it through thick and thin, to thrive through
culture of SBI. The Bank leverages its geographical
working in the sector. Mobilising for Good
footprint to conduct CSR activities and touch
ever-evolving business landscapes.
millions of lives. CSR Initiatives are also aligned with This year, some of SBI’s noteworthy initiatives in
SBI is committed to ensuring that its own national priorities like the Swachh Bharat Abhiyan, this area included:
success translates into that of its stakeholders. Jal Shakti Abhiyan, Beti Bachao Beti Padhao scheme
• Support for medical treatment of cancer
It is developing the communities it operates in, and River Rejuvenation efforts to lend momentum
patients at Gujarat Cancer Society
enhancing customer experience and supporting to the national developmental agenda. During the
value chain partners. reporting year, SBI spent `144.88 crore on various • Donation of medical and electrical equipment
CSR Area
initiatives. to cataract patients at Ramakrishna Math,
CSR Spend by Focus
Antpur Vehicle donation to Advanced Eye Centre
• Donation of high-end medical equipment at the Post-Graduate Institute of Medical
5.78 used to detect molecular and genetic status in Education & Research, and the Open Eyes
Education cancer patients Foundation, which works to sustain the
0.70 1.91 education of underprivileged students.
Animal Welfare • Procurement and installation of dialysis
Environment
machine and dialyser reprocess machine at the
10.16
Girl Child
Kalapurnam General Hospital in Jodhpur
Welfare
Supporting India’s Armed Forces
• Support for optical surgeries of 50 poor and
needy students at Shri Labhmuni Jansewa
20.81 Trust, Mandsaur
71.18 CSR Spend by Health
Grant to SBI • Donation of ambulances, medical equipment
Focus Area
Foundation
(in ` crores) and cancer screening units, and setting up of
22.50
operation theatres at multiple hospitals
Rural Development /
Skill Development • Adoption of 25 children suffering from acute A critical care ambulance was donated
myeloid leukaemia through the Cancer to the youngest corps stationed at Yol,
5.43
Women Empowerment Patients Aid Association Dharamshala in Himachal Pradesh ,
Tribal Welfare and 5.02
Handicap Welfare Sports marking India’s victory in Indo-Pak war of
1.40 1971.
Swachh Bharat
and Sanitation
60 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Indirect Economic Impacts, Local Communities), GRI 413-1 Sustainability Report 2020-21 | 61
GRI 413-1 Sustainability Report 2020-21 | 61
Supporting the Health of Frontline Warriors Blending Technology and Accessibility
SBI aims to keep visual impairment

from becoming a barrier to students’
The Chandigarh Circle extended support to learning. The New Delhi Circle provided
police officers in Himachal Pradesh by donating a school in Agra with refurbished
392 blood pressure monitors to the force. computers that had screen-reading
software installed in them.
Education and Welfare of Girls

Education
in Ajmer, Rajasthan, which provides The importance of education cannot be overstated children of war veterans, ex-serviceman and war
Education is the foundation upon which a self-
vocational training to hearing- when it comes to marginalised groups, equipping widows in the form of a year-long education grant.
sufficient life is built. SBI strives to support the
impaired students. whom with education and vocational skills is crucial
education of weaker social group in remote, Additionally, it has supported the education and
to breaking the cycle of poverty.
unreachable and underdeveloped areas. It also donated to Kat-Katha, an NGO welfare of girl children through Shanti Sahyog in
that works with vulnerable women and children New Delhi and the Universal Smile Trust, Kolkata.
This year, the Bank started providing financial
in Delhi. The not-for-profit organisation aims to These organisations help beneficiaries reach their
assistance for the education of 100 children with
empower beneficiaries through its four-pronged full potential by providing them with the skills and
disabilities in Vijapura District, Karnataka. This
approach of ‘RISE’ – Rights, Integration, Skills and support they need to succeed in the educational
association, which began in October 2020, will go
Education, towards which the Bank’s contribution and professional landscape.
on for a period of 18 months, until March 2022.
has been used. Skill Development
Additionally, SBI purchased and installed solar
power plants at Badhit Senior Secondary School
India has a sizeable young population. Enhancing
its employability is instrumental to the economic
development of the country. As on 31st March
Testimonial: Kat-Katha This year, the Bank’s thrust towards education 2021, the Bank has set up 152 RSETIs across the
We thank SBI for the generous contributions and support to Kat-Katha. The partnership will foster included lending support to the Government of country to work towards this cause. This year,
student learning and development at our activity centre, and provide alternate livelihood opportunities to India’s Beti Bachao Beti Padhao campaign. SBI the Bank allocated an amount of `22.50 crores to
marginalised and vulnerable women. The dedicated and inspiring team at SBI has ignited a spark of hope has committed to provide financial assistance improve and upgrade the infrastructure at 17 of
and joy to enrich the quality of education for the children and skills for the women. This collaboration will amounting to a total of `10 crores to 8,333 girl these institutes.
build a new pathway for transformation. We are extremely grateful and look forward to this wonderful
association.
Strengthening Education Infrastructure
The Maharashtra Circle donated furniture to

Taramati Bafna Blind School in Aurangabad in
March 2021. The contribution was aimed at
furthering the causes of empowering differently
abled children and strengthening educational
infrastructure in the country.
Women’s Empowerment Swachh Bharat, Environmental

Empowering Specially Abled Women Sustainability and Sanitation Biological Park Upgradation
Imparting vocational skills is instrumental
when it comes to improving the quality SBI is committed to doing its part to ensure that
of life of communities. As part of its Indians have access to safe, healthy and clean
commitment to empowering women, the environs. The Bank has undertaken a number of
Bank is providing them with training that can initiatives in line with the Government of India’s goal
help them become financially independent. of achieving a Swachh Bharat. These include, but
This year, a sewing training centre was set are not limited to, the provision of sanitary napkin
up at Shri Sewa Bharti Siksha Samiti, Indore, vending machines and dumper bins. Towards the
to help women establish and secure a steady end of an open defecation-free India, meanwhile, the
income stream. Recognising the importance of To mark International Women’s Day, SBI’s Bank has constructed and renovated five accessible
digital literacy in the 21st century, meanwhile, personnel came together to donate essential toilets at the Leprosy Mission Trust, to which it also
a computer library with 10 workstations was items to Mission Ashra, which shelters donated laboratory equipment.
set up at the Shraddhanand Mahilashram in specially abled women.
Mumbai. In line with these efforts to ensure clean and green
surroundings, SBI donated plastic recycling machines
at multiple locations this year. Further, it supported
Promotion of Sports a tree plantation drive organised by the Green Leaf
Trust in Ahmedabad. This afforestation drive was
Supporting sports and athletes is not only paramount to helping India succeed on the international stage, undertaken as per the Miyawaki method, which The Patna Circle participated in Sanjay
but also contributes to promoting fitness and wellbeing throughout the nation. This year, the Bank extended mimics nature through the plantation of native Gandhi Biological Park’s animal adoption
its support to the Ministry of Youth Affairs and Sports by donating `5 crores to the Target Olympic Podium species that can thrive in the area. programme. It adopted a tiger, zebra,
Scheme. This flagship programme provides support to potential Olympic medalists in the forms of reputed chimpanzee, rhinoceros and a giraffe, in
coaches, access to world-class facilities, equipment, monthly allowances, and access to services like Caring for Wildlife addition to some birds at the park. An
physiotherapists, sports psychologists and physical trainers. e-vehicle was also donated to facilitate
Continuing its rich legacy of contributing to cleaner movement inside the premises of
This donation marks a continuation in SBI’s association with the Ministry of Youth Affairs and Sports. In conservation efforts, the Bank has adopted tigers the park.
FY 2016-17, the Bank had contributed `1 crore to the NSDF, towards the same cause of grooming Indian and other endangered animals for a period of
athletes for international competitions. one year at various zoological parks and animal
shelters. Throughout the engagement, SBI will
contribute towards the wellbeing and welfare Protecting India’s National Animal
of these animals. It has also extended support to
the installation of bird perching stands at Kolleru
Wildlife Sanctuary, which is home to various rare
species.
Animal Adoption by the Bank
The Chandigarh and Maharashtra Circles

did their part to protect India’s national
animal. In December 2020 and March
SBI donated `10 lakhs for the adoption 2021, respectively, the circles adopted
of animals to the Nandankanan tigers at local zoos, to contribute towards
Zoo, Bhubaneswar on the zoo’s 61st preserving and nurturing them.
Foundation Day.
Disaster Relief Supporting Accessibility in Recreation SBI Foundation YFI has an alumni base of 352 passionate change
makers, approximately 70% of whom continue
Helping communities get back on their feet after In 2015, the Bank established SBI Foundation to be associated with the developmental sector
In line with its endeavour to work towards
a natural calamity is a constant endeavour of the as a Section VIII company, with the objective after the fellowship. At present, the eighth cohort,
clean, green and beautified public spaces,
Bank. This year, it supported the plantation of of streamlining the CSR activities of SBI and its comprising of 100 fellows, is deployed in rural
SBI donated `9.20 lakhs to build a sensory
15,500 saplings along the West Bengal coastline, subsidiaries. The Foundation embodies the Bank’s geographies to undertake impactful projects.
garden in Aurangabad, Maharashtra.
which was affected by Cyclone Amphan. The Bank ethos of “service beyond banking”, by creating
Accessibility is the key tenet of the garden,
also provided essential items to people in flood-hit an inclusive development paradigm that serves
which has been built keeping in mind the Gram Seva
areas of Hyderabad during the reporting period. all Indians. It seeks to deliver benefits across In 2020, the SBI
requirements and limitations of differently
the length and breadth of the country, through This flagship programme, Foundation’s Gram
abled children. The first of its kind in the
strategic partnerships with impact-making entities which was launched in Seva program won
city, it allows differently abled children
in the social and developmental sector. 2017, aims to facilitate the Grant Thornton
to reap the benefits of play in a safe and
sound manner, fostering inclusivity. holistic and sustainable SABERA Award
Flagship Programmes rural development. for contributing to
Youth for India (YFI) Gram Seva has been agricultural and
Spreading the Joy of Giving: Daan Utsav transforming adopted rural development.
This 12-month fellowship provides a framework for villages through an
On Gandhi Jayanti, SBI kicked off an initiative India’s bright young minds to join hands with rural
to spread the joy of giving, with various circles integrated development approach. It seeks to
communities, empathise with their struggles and
stepping up to support their communities. improve the quality of life in villages through
connect to their aspirations. The selected fellows,
digitisation, improvement of infrastructure and
from top academic and corporate institutions, work
primary health services, promotion of sustainable
with 12 partner NGOs on development projects.
livelihood practices, and empowerment of rural
women and youth.
Welfare of Tribal People and Persons

with Disabilities
SBI has supported the welfare of Persons
with Disablilities by donating prosthetic legs,
wheelchairs, braille kits and other equipment This initiative provides avenues for the youth to
for their use. Special activities have also been become aware of the ground realities and presents
undertaken for the upliftment of tribal people them with an opportunity to contribute to building
by providing avenues for self-employment and strong cohesive communities.
providing facilities for their well-being.
Bringing Potable Water to Tribal

Households
The Bank supported a project to install

overhead water storage tanks that bring
water to 35 individual dwelling units
in Maharashtra’s Thane district. This Flag-off of Joy of Giving collections at SBI
Corporate Centre office
project brings potable water to villagers’
doorsteps, saving them the time and Circles extended financial support, which helped
effort needed to travel to fetch water for bring necessary items like food, clothing, PPE,
domestic use. blankets, groceries, toys and much more to various
people in need.
66 | Sustainability Report 2020-21 GRI 413-1 GRI 203-2, GRI 413-1 Sustainability Report 2020-21 | 67
In the first two phases, SBI Gram Seva has been implemented in 75 villages, along with NGO partners in
various parts of the country. Over the last three years, SBI Foundation has been able to make a commendable
impact in the villages, touching the lives of 16,396 families and 74,785 beneficiaries across 11 states in the
first phase alone.
Centre of Excellence for Persons with Disabilities This year, the Bank’s initiatives to empower PwDs
through the SBI Foundation included: • Braille Smart Class: An initiative to provide • Swasth Mahila, Swasth Goa: This initiative
The Centre of Excellence (CoE) is geared at seeks to provide a technological intervention
inclusive education through the use of an
empowering Persons with Disabilities (PwDs) • Project SBI Foundation and Microsoft in the form of iBreast devices, training and
independent, inclusive and accessible teaching
through skill enhancement. It seeks to make a Employability Initiative for Persons with capacity-building support to the Government
mechanism in the form of Braille self-learning
significant and measurable improvement to their Disabilities (S.A.M.E.I.P.): An initiative to establish of Goa. It is expected to screen 1,00,000
devices for visually impaired children on a pilot
lives, by optimising individuals’ cognitive, physical, career pathways for 500 underserved youth with women for breast cancer in the state over a
basis in Mumbai.
social and vocational functioning. The CoE has disabilities in the BFSI sector in India, by setting period of two years.
conducted 77 online training programmes for up of five centres in Mumbai, Delhi, Bengaluru, Healthcare Flagship Programme
3,678 employees with disabilities from nine public Chennai and Kolkata. • The School Initiative for Mental Health
sector banks during FY 2020-21. It also conducted In response to the COVID-19 pandemic, the SBI Advocacy: This project has been supporting
11 online sensitisation and awareness sessions • Inclusive Education Programme: An initiative Foundation launched a flagship initiative in the schools in Mumbai during the pandemic
on disability for HR personnel belonging to seven to support 200 children with special needs healthcare sphere. As part of this initiative, the by conducting capacity-building webinars
public sector banks, NGO partners and YFI fellows. in Karnataka to access comprehensive Foundation will work towards forging partnerships for teachers, counsellors and leaders. It is
interventions of education and rehabilitation in with like-minded organisations to promote unified providing online consultation to schools,
model and community schools. efforts to ensure a healthier future for all Indians. helping them develop systems and pathways
In addition to fighting the COVID-19 pandemic, for mental health services.
• Education Programme for Children with
the India Health Alliance is working to promote
Disabilities: This initiative seeks to provide • Project Jagruti: Through this initiative, the
innovative finance as well as innovations and
education, therapy and vocational skill Foundation is reaching out to remote villages
cutting-edge technologies that can strengthen
development to 50 children with disabilities. It and tribal hamlets in Maharashtra’s Thane
health systems of the country. In line with the IHA’s
also includes a vocational centre that is geared district. Project Jagruti works to provide basic
objectives, SBI Foundation is working to facilitate
at empowering young adults with intellectual healthcare services and raise awareness on
community-based testing in impoverished areas
disabilities. relevant issues amongst populations who have
of Mumbai. Meanwhile, it is also providing tele-
care to vulnerable communities in urban slums of limited or no access to any healthcare facilities.
• Shravan Shakti: This initiative, in partnership
with Ali Yavar Jung National Institute of Speech Indore. • Sanjeevani: An initiative to operate two mobile
and Hearing Disabilities, works to integrate medical units to reach 20 rural villages each in
The Bank is also funding other CSR projects in the
children under five years of age with congenital Namchi block, Sikkim and in Gadwal district,
sphere, through SBI Foundation, to provide access
hearing loss into the mainstream. This year , Telangana.
to quality healthcare to all:
the programme has supported cochlear implant
surgeries of 50 children in Kolkata and 17
children in Delhi.
68 | Sustainability Report 2020-21 GRI 203-2, GRI 413-1 GRI 203-2, GRI 413-1 Sustainability Report 2020-21 | 69
SBI Foundation’s Contribution to Bank’s materials in a play-based manner, engaging and

Environmental Sustainability community participation in Almora and
CSR Focus Areas Bageshwar districts of Uttarakhand.
educating parents and caregivers on fun ways • Waste No More: The Foundation is creating
to support children’s educational development. end-to-end dry waste management solutions • Clean Energy: This initiative works to provide
Education
for 100% segregation and recycling of dry decentralised solar home lighting solutions,
• Gyan Shala Middle School Programme: This waste to address the challenge of low adoption along with hybridising existing micro hydro
initiative was conceived to provide high-quality of recycling. plants with solar photovoltaic systems. The SBI
middle school education to underprivileged Green Fund programme is aimed at providing
children between the 4th and 8th grades. 1,799 • Sanitation Project: This SBI Green Fund continuous access to clean energy in the
children in Ahmedabad have been imparted initiative is supporting the construction of 42 Kalahandi and Gajapati districts of Odisha.
middle school education as part of the project. new community toilets and upgradation of 15
existing community toilets in Dekadong and • Project WasteEnd: Enabling rural communities
• CM RISE – New Horizons: This project Doomni villages in Assam. to design and set up low-cost waste
undertakes professional development of management systems is the goal of this SBI
government school teachers in 52 districts in Green Fund initiative. These systems are
the state of Madhya Pradesh. operated and managed by the communities
Promotion of Sports
living in Buharu, Kakniwas and Rampura
• Prarambhik Bhasha Shikshan Programme: villages in Rajasthan’s Ajmer district.
• STEAM Scholarship: 13 grassroots-level
The aim of this programme is to improve
athletes are provided a year-long scholarship
language learning outcomes of approximately • Empowering Rural Communities: An initiative
in the disciplines of science, technology,
16,000 children in Haryana’s Ambala district. to support and empower 150 voluntarily
engineering, analytics and medicine as part
It has reached 7,138 children studying in 479 relocated families living in and around
of this initiative. It also gives them access
schools, and is a part of India’s first ever impact protected forest areas in the Western Ghats
to sports science facilities and customised
bond – the Haryana Early Literacy Outcomes of India by aiming to reclaim 375 acres of land
sport-specific routines based on their goals, in
Development Impact Bond. under protected area by providing alternative
consultation with their coaches.
sustainable livelihood support.
• Personal Safety Education and Child Sexual
Abuse Prevention and Training: Over 3,429 Research and Development (R&D)
children and 1,509 caregivers in Mumbai have
been trained on personal safety through this The SBI Foundation is supporting two R&D
initiative. It enables students to identify and projects with IIT Madras:
talk about sexual assault and disclose first-
• Towards Green Livelihoods: Promoting • Development and Upgradation of CBEEV’s
hand experiences, which will make them feel
Bamboo-Based Livelihoods and Sustainable Assets and Infrastructure: The Foundation
less vulnerable and make it easier for survivors
Ecosystem: The goal of this SBI Green Fund has procured equipment to upgrade
to come forward.
initiative is to plant 12,000 bamboo saplings in research facilities at the Centre for Battery
• Project Gadadhar Abhyudaya Prakalpa (GAP): six nurseries created on wastelands of tribal Engineering and Electric Vehicles. This will
This programme supports five GAP units for a farmers in the Nashik and Palghar districts of promote the development of products that
duration of three years. It helps them conduct Maharashtra. are cost-effective, user-friendly and efficient,
activities aimed at the physical, mental and by facilitating innovation related to Li-ion
• Tree Plantation Project: 10,000 indigenous batteries, chargers, EVs and micro-grids.
intellectual development of underprivileged
species of trees are being planted in over 42
children, helping them achieve their potential.
Conservation of National Heritage hectares of wastelands in Udaipur, Rajasthan as • Infrastructure Systems Lab and R&D in
• Learn, Play, Grow: As part of this initiative, the part of this SBI Green Fund programme. Infrastructure Delivery: This involves
Foundation provides high-quality educational • Swachh Iconic CSMT: Through this initiative, procurement of necessary equipment to set up
SBI Foundation is helping conserve and restore • Jal Dhara: This initiative, powered by the SBI a modern infrastructure systems laboratory
content to 60,000 children and their caregivers
the south and east façade of the Chhatrapati Green Fund, is rejuvenating four Himalayan for prototyping and testing next-generation
in 3,000 anganwadis across four districts of
Shivaji Maharaj Terminus, Mumbai, which is a springs. This will work towards ensuring water solutions.
Meghalaya. It involves building the capacity
UNESCO World Heritage Site. security by optimum springshed management
of anganwadi workers to use early learning
and, thus, recharging springs through
In the reporting period, senior citizens on various available benefits and

31,31,509 customer 95.58% of the
the ways in which they can be availed. SBI has also
complaints were raised, year’s complaints
introduced the concept of floor managers in over
bringing the total were resolved as on
2,400 branches for enhanced customer experience.
number of complaints 31st March 2021.
to 33,07,566. The Bank Value Chain Management
resolved 31,61,286 of
these during the year, with 1,46,280 complaints in SBI’s value chain partners play an instrumental
the process of resolution as of 31st March 2021. role in facilitating the provision of a wide range
In FY 2020-21, contact centres handled 1.72 lakh of products and services to a large customer
complaints, whereas 7.91 lakh cases were handled base. The Bank works with various partners for
by circle complaints resolution centres. technology and infrastructure development, digital
services, stationery and utility supplies, and to
In an endeavour to enhance the quality of acquire human capital. Knowledge partners also
complaint resolution, the Bank piloted centralised play a crucial role in enhancing the Bank’s offerings
complaints resolution centres at the Local Head by driving innovation and business best practices.
Office level in FY 2019-20. At these centres, As of 31st March 2021, 8,874 vendors were
analyses are conducted to identify the root causes registered at the SBI Corporate Centre, and there
Inauguration of a branch at Bodh Kharbu in Kargil district to increase access to banking facilities in remote areas of major areas of complaints. Findings from this were no significant changes to the Bank’s supply
exercise are used to make the required product and chain in the reporting period .
Customer Centricity process improvements, and elevate the customer
experience. Recognising the large number of partners and the
Customer trust is the foundation upon which the Tracking System, to avoid crowding and enhance influence on them, the Bank strives to foster a
success of every organisation is built. Though the the quality of service that is provided. A biennial This year, the Bank also conducted the ‘Grahak culture of social and environmental responsibility,
Bank’s offerings have continued to evolve since Customer Service Feedback Survey is also Santrupthi’ campaign, to drive a reduction in compliance and transparency throughout the value
its inception, one thing has remained unchanged undertaken at these branches to assess the impact complaints in the three key categories of account chain. SBI adheres to a Government-accepted
– its unwavering focus on providing a superlative of the project, and refine it over time. transfers, deceased account settlements and vendor selection processes while onboarding
customer experience. Efforts across capitals have staff misbehaviour. The campaign has resulted in vendors. It also conducts regular audits of
been geared towards this end, taking the form The Bank also deploys various technologies to reduction of complaints by 73%, 64% and 44%, outsourced activities for non-IT vendors providing
of staff training and development, innovation seek customer feedback, and continually improve respectively. services like ATMs, cheque book printing, recovery
and product development and financial literacy performance. It has installed Automatic Real and resolution, document archival and collateral
campaigns, to name a few. Time Customer Emotions Feedback (ART CEF), The Bank has also introduced 5 registered mobile management, among much more. This year, the
an automated platform that gauges customers’ number-based services, which have helped the Bank has audited 30,384 of 60,776 BCs and CSPs.
The Bank engages with customers using various satisfaction with various services. The non- clientele in these testing times. A doorstep banking In respect of other outsourced activities audit of
platforms, including – but not limited to – customer intrusive platform eliminates the need for human initiative was launched for pensioners wherein 738 vendors as planned was completed.
service surveys, Mega Customer Meets and intervention, allowing for faster and more unbiased virtual pensioners meets were conducted to inform
Customer Town Hall Meets. Meanwhile, the processing of feedback.
Customer Experience Excellence Project forms
the cornerstone of its efforts to enhance the In addition to this, customers also have the
banking experience. The project simplifies the option of raising their grievances through various
queue management system, by giving priority to channels such as the contact centre, website,
senior citizens and other customers most in need. SMS, email, and branches or offices. The Bank’s
The performance of these branches is monitored contact centres operate round the clock, and
and managed through the Branch Performance serve customers in Hindi, English and 10 regional
languages.
72 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Customer Satisfaction) GRI 102-9, GRI 102-10 Sustainability Report 2020-21 | 73
SBI’s branches are subjected to Information Privacy Governance

System (IS) audits to assess IT-related risks as
part of their RFIAs. The IS audits of centralised The Bank has a robust cyber security framework, to
IT establishments are also carried out by a team conduct ethical hacking on web-facing applications.
of qualified officials, which includes auditors This is a proactive step taken to plug the loopholes
appointed through a lateral recruitment process. in applications before they are discovered and
In addition, a cyber security audit is carried out on eventually exploited by any outsider. There is an
an annual basis, as per the Bank’s Cyber security approved SOP for Internal Ethical Hacking to
Policy. encourage staff perform ethical hacking on the
Intellectual
Bank’s infrastructure.
The State Bank Security Operations Centre
(SBSOC) has been set up for real-time monitoring, The Bank has also initiated measures to put in place
analysis, correlation and incident management. a Next Gen Global Cyber Security Operations Centre
Capital
The SBSOC possesses the capability to detect virus (NGGCSOC) with state-of-the-art technologies
infections on systems, incorrect login attempts and best-in-class products, leveraging AI and ML
and other unauthorised activities. For better IT capabilities to strengthen its cyber security posture.
Management
security, internal audits are conducted at regular
The Bank has implemented a Proactive Risk
intervals.
Management (PRM) solution to combat attacks such
The Bank’s Information Security function is as phishing, credit card frauds, internet banking
I
responsible for the protection of confidentiality, frauds and mobile banking frauds. PRM is capable
nnovation is of paramount importance to
integrity and availability of data, while maintaining of detecting and alerting fraud, suspicious account
organisations across the board, but especially to
a focus on efficient policy implementation. This is and transaction activity, while facilitating effective
the BFSI sector, which has been at the forefront
achieved through a multi-step risk management counter measures.
of technology adoption and innovation. The Bank’s
intellectual capital management approach is aimed process that identifies assets, threat sources,
The Bank is fully compliant with the 21 mandatory
at providing its customers with new and innovative vulnerabilities, potential impacts and possible
controls and 10 advisory controls prescribed by the
offerings, in a secured manner. controls. For effective functioning, the department
SWIFT. Further, the business continuity management
is segregated into three wings:
system of the IT Risk Management department
Information and Data Security • Information Security Operations, which acts adheres to the obligations laid down by ISO
as a “toll-gate” for all IT activities, and ensures 22301:2012.
The Bank has adopted a robust and agile effective risk perception, risk assessment
therefore, established a strong data privacy and
Information Security framework in line with its and mitigation of potential negative impacts A vulnerability assessment and reporting exercise
security strategy that allows it to capitalise on the
strategy. Security concerns are reported in the through its controls. is conducted on a quarterly basis. Following this
benefits, while also mitigating the resulting risks.
Bank’s internal audit reports, and during routine exercise, an interim report featuring mitigative and
and periodic supervisions. SBI has introduced • Security Operations Centre, which detects,
SBI has become a pioneer in the Indian BFSI sector analyses, defends, investigates and reports preventive actions is issued to enhance security
a business stability plan, contingency plan and by establishing a robust data governance structure, within the Bank.
incident response mechanism. Furthermore, security incidents by using a combination of
and has set up a Data Management Office, robust processes and technological solutions.
the Board’s IT Strategy Committee organises a spearheaded by the Chief Data Management This year, SBI recorded 21 information security
quarterly Integrated Business Continuity Exercise SBI’s SOC is ISO 27001:2013 certified.
Officer. The data governance framework is driven breaches or other cybersecurity incidents, 10 of
(IBCE) to mitigate the unfavourable consequences by an Apex-Level Data Governance Council • Cyber Security Wing, responsible for which involved customers’ personally identifiable
of business interruption and system breakdown. (ADGC), supported by the Data Governance conducting internal ethical hacking and red information. No fines or penalties were to be paid in
Council (DGC). This structured approach works teaming exercises. relation to these incidents.
There is an immense growth in the volume of
to reduce complexity, and ensure data quality and
data handled by the Bank, which calls for an The Bank periodically conducts IS awareness
security across the Bank, thereby enabling better
effective data management system. Moreover, programmes for employees, group entities and
utilisation of its data assets.
SBI is thoroughly examined by numerous investor vendor partners. This financial year, activities
groups on the parameters of data privacy and This robust data governance system ensures included various webinars, live hacking demos and
security risks, compliance, and legal issues, owing sustained growth and compliance with the evolving knowledge-sharing sessions, among much more.
to its operations in a highly regulated sector. It has, regulatory requirements regarding data privacy.
74 | Sustainability Report 2020-21 GRI 103-1, GRI 103-2 (Indirect Economic Impact) GRI 103-1, GRI 103-2 (Customer Privacy), GRI 418-1 Sustainability Report 2020-21 | 75
Innovating for Customer Experience
Highlights of YONO
Internet Banking Users (in Lakhs)
79.6 million+ 889

cumulative downloads
735
37.10 million+ 604

overall registrations
479
Launch of SBI IOCL contactless RuPay debit card
3.85 lakh 327
credit cards
263 In order to strengthen the security of ATM cash unlock internet banking access, and a facility to
sourced in FY 2020-21 220 withdrawals against skimming, cloning or theft enable and disable UPI as the mode of payment.
of cards, the Bank introduced OTP-based cash Over 19,500 merchant integrations have been
51.81 lakh withdrawal facility for transactions above `10,000. done during the year to fuel the e-Collections,
e-Payments and e-Commerce ecosystems.
digital savings accounts With the objective of making ATMs more secure,
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021
opened in FY 2020-21 SBI has installed Multi-Vendor Software (MVS) and SWAYAMs
End Point Security (EPS), covering implementation
of BIOS Password, disabling USB Ports, upgraded The Bank has installed 18,073 SWAYAMs
operating system, EMV card readers, anti- (barcode-based self passbook printing kiosks)
Digital Banking skimming devices and other software, making all deployed across 15,857 branches. Through
ATMs and ADWMs compliant of various control SWAYAM kiosks, the printing of 3.50 crore
The Bank continues to be at the forefront in the in to the main application. YONO has crossed many measures mandated by RBI. passbooks takes place on a monthly basis.
digital banking domain with a steady stream of milestones, with 79.6 million+ downloads, average
technology-driven innovations. It has a multi- daily logins of around 10 million and 37 million+ To ensure safety of customers and facilities, the Smart Cheque Deposit Kiosks (CDKs)
channel delivery model, which offers customers registrations as on 31st March 2021. Bank has enhanced coverage under e-Surveillance.
CTS-enabled self-service CDKs facilitate
a wide choice to carry out these transactions, at It has covered more than 43,000 ATMs under
any time and place. SBI has expanded its offerings
ATMS and Automated Deposit and eSurveillance as on 31st March 2021, and is
customers to deposit their cheques in a hassle-
Withdrawal Machines (ADWMs) free manner. The kiosks have been deployed at
across various channels – digital, mobile, ATM, working towards covering all ATMS in the next
2,500 branches, where outward clearing cheques
internet, social media and branches. year.
The Bank has one of the largest ATM networks in are more than 50 per day.
YONO is the Bank’s flagship mobile banking and the world, with 62,617 ATMs, including Automated Internet Banking
Deposit and Withdrawal Machines (ADWMs), as on Mobile Banking
lifestyle app—a one-stop-shop offering not just
financial services but also a gamut of investment, 31st March 2021. In order to provide uninterrupted Internet Banking continues to provide a seamless
Mobile banking is the second largest alternate
insurance and shopping solutions. In addition, it cash deposit and withdrawal facility, the Bank online experience, offering secure and diverse
channel in terms of volumes after the ATM. It
also offers YONO Krishi, which is a comprehensive has installed 13,237 ADWMs. Over 1.12 crore banking services to retail users and corporate
handles various critical customer-facing mobile
multi-lingual platform for agriculture segment transactions per day are routed through SBI’s ATM users. Many new services were rolled out for retail
applications and services like UPI, Yono Lite, SBI
customers offering simplified finance (KCC network. SBI’s ATM department complies with PCI- customers like OTP over email to resident Indians,
Quick and SBI Secure OTP. SBI Secure OTP has
Review and Agri Gold Loans), advisory and market DSS, which is a benchmark security standard for SMSes in hindi and real-time multiple demand
been implemented to safeguard the security of
intelligence-related services (Mitra) as well as payment card industry and stands tall with 26.51 loan for e-Commerce transactions. Keeping in
the customers.
market linkage (Mandi) and YONO Quick Pay, crore active cards as on 31st March 2021. view increased cyber threats, the security of
which offers convenient payments without logging customer accounts was further enhanced by
introducing captcha at login, provision to lock or
76 | Sustainability Report 2020-21 GRI 203-2, GRI 103-1, GRI 103-2 (Customer Satisfaction) GRI 203-2, GRI 103-1, GRI 103-2 (Customer Satisfaction) Sustainability Report 2020-21 | 77
E-business Card by SBI Wealth Innovation in Our Processes Enhancing Access to FI&GS Innovating for Our Employees
SBI Wealth has introduced an e-Business card, Digital Transformation at Liability Centralised In the Financial Inclusion and Government askSBI
which enables efficient service delivery to clients. Processing Centres (LCPCs) Schemes (FI&GS) space, multi-device login,
The clients are connected through voice and video passbook printing and voice prompts were SBI has started a real-time search engine ‘askSBI’,
calls to provide them all the required assistance The pilot ‘Work from Anywhere’ project has introduced at CSP outlets in Hindi, English, Tamil accessible to all its employees through their
in banking and investment services during the been implemented at LCPC Mumbai, obviating and Telugu languages. cellphones. This year 92% of the branches utilised
pandemic. the physical presence of employees during the it for their real-time operational knowledge needs.
pandemic and ensuring timely activation of Enhancing Trade Finance Customer Experience Over 83 lakh user queries were addressed during
onboarded customer accounts. the year through the platform. The efforts of
SBI caters to end-to-end trade finance
subject matter experts mapped to specific domains
Scanning and Digitisation of Account Opening requirements of customers to enable seamless
resulted in a focussed approach, with 98.54%
Forms (AOFs) real-time integration with multiple applications for
queries resolved on a real-time basis.
smooth flow of the transaction. Users can gain a
Scanning and digitisation of the AOFs for the pre- complete view of all sub-companies, trade portfolio CaPaBle (Case Study, Research Paper, Booklet,
LCPC period is currently underway to facilitate dashboard, notifications and alerts, and submit External Article)
digital storage and hassle-free retrieval of data for documents digitally, among much more.
operational purposes. An in-house application developed in Microsoft
Customer Relationship Management (CRM) Power Apps to facilitate online processing of
Outsourcing of Record Management Project external publications, case studies and booklets.
CRM provides state-of-the-art solutions for the
Introduction of wealth management services in Amritsar The utility helps avoid usage of paper and takes
This project will enable freeing up of space at integrated management of sales, service and
the entire process online. CaPaBle avoids paper
branches, admin offices and internal DACs, which marketing activities. The complaint management
Payment Aggregator and Payment can be put to productive use or can be surrendered module in CRM has now migrated to a more
consumption, resulting in reduction in the carbon
Gateway (e-Pay and PG) saving on the rent. sophisticated and advanced system i.e. CRM-CMS,
footprint. It also helps in capturing the entire
workflow online, from initial submission till
wherein previous complaints and other details are
SBI works both as payment aggregator and payment Outsourcing Model of Stationery Management final approval stage, and placing the approved
captured in the application, giving ease to users
gateway, which is a unique PCI-DSS-certified secured Project documents in the virtual library.
and customer for complaint lodgment, tracking and
platform for facilitating seamless e-commerce
resolution. Case Study Discussion Board
transactions between merchants, customers and This project has been implemented in all circles
financial institutions, for various kinds of payment during the year. It is an end-to-end stationery Data Warehouse The discussion board is a unique initiative, which
modes. This platform is provided through the management solution, wherein branches can
provides a social forum for collaborative learning
Bank’s payment aggregator and payment gateway directly place their stationery requirement through The Bank is implementing a best-in-class solution
through discussions on solving problems, sharing
applications by integrating with thousands of online portal and receive the indented stationery to accommodate the growing volume of data, with
knowledge, and developing good practices. The
merchants on one end and payment channels on the at their doorstep. This will reduce the overall cost the aim of becoming a single source of truth for all
objective of the board is to bring back the culture
other. on stationery, ensure timely availability of uniform data purposes. An advanced analytical platform,
of traditional takeaways of classroom training
quality of stationery to all offices and branches, and with components like a data lake and virtualisation
yonoBusiness assist in effective inventory management. layer, is being implemented to enhance the
from experiences of other officers and networking
with more experienced officers or experts in
analytical capabilities of the Bank.
Through yonoBUSINESS, the Bank offers MSMEs, Streamlining the Loans Process online training sessions. This unique initiative
corporate and government customers a unified Analytics has attracted huge interest from the employees,
platform that focusses on building an omni- Technological developments in the IT-retail with around 54,304 unique visitors made around
channel digital platform. One of the largest digital loans were related to requirements pertaining SBI is steadfastly using and enhancing its analytics 5,59,432 site visits in a short period of less than
transformation initiatives undertaken by any bank to sourcing, processing, underwriting and capabilities by using AI and ML for improving two years.
for their corporate customers, yonoBUSINESS disbursement of loans through a Loan Originating efficiency, reducing risk and growing business.
spans across all corporate requirements - from System (LOS) for Personal Banking, LOS (Agri) and Some of the projects executed during the year
account opening and payments to trade and Retails Loan Management System (RLMS). Lead using analytics were business growth through
advances. Working towards end-to-end digitisation, sourcing and loan collection are handled through e2e digital lending and analytics to mitigate risk
yonoBUSINESS aims to redefine the way SBI and its an online customer acquisition system and loan by using AI-driven models and for the purpose of
customers approach corporate banking. collection system application, respectively. operational efficiency.
78 | Sustainability Report 2020-21 GRI 203-2, GRI 103-1, GRI 103-2 (Customer Satisfaction) GRI 203-2, GRI 103-1, GRI 103-2 (Customer Satisfaction) Sustainability Report 2020-21 | 79
Training Management System State Bank Training Content Solution (SBTRACS)
The training management system is an This software application was developed to host all the
intranet-based, in-house developed software training material at a centralised location, from which
application available for entire workforce participants can be provided access through specified
of the Bank. It facilitates optimum resource credentials. While this obviates the trouble of preparing or
utilisation, enables real-time online monitoring printing training material and nullifies the costs involved
of training participation and instantaneous therein, the participants are immensely benefitted by way
percolation of corporate concerns through of updated content, which is also available at any time
the training system. Notably, paper-intensive and place. The content is continuously updated by subject
activities like printing of training calendars, matter experts and the repository always hosts the latest
participation registration forms, quiz and exam material. In this manner, the Bank is also reducing its
papers and feedback forms have all been made carbon footprint and adopting greener practices.
e-processes, leading to paper and cost-savings.
Online Assessment Application
Training / Learning Dashboard
This application is being used to conduct regular
This in-house application provides real- assessment tests for Probationary Officers and Trainee
time inputs on training and learning data. It Officers during their probation period. It has been in use
facilitates employees as well as controllers for four years and till now, around 1,00,000 exams have
– at all levels to be updated about the latest been held. Conducting these exams online has led to
completion status, or otherwise, on various considerable cost and paper-saving for the Bank.
parameters defined by the Bank from time to
time.

GOLD SILVER FIVE AWARDS

Digital Marketing Excellence Digital Marketing Excellence in Governance and HR and
in Content Marketing Social Media (BFSI) Customer Responsiveness
DIGXX Awards, 2020 DIGXX Awards, 2020 Ease 2.0 Awards
GOLD EXCELLENCE AWARD EXCELLENCE AWARDS
Awards and Best Digital Campaign by/for

a Financial Services/ Banking
Best Transaction Bank in
India
Best Security Practices in
Banking Sector
Recognition
Enterprise
Asian Banker Magazine DSCI 2020
mCube2020
ICONIC BRAND OF BRONZE SILVER

INDIA
Best-in-Class Contact Centre CSR COVID Relief Project
Economic Times Iconic
Brand Digital Conclave 2020 Customer Contact Week Asia 4th CSR Health Impact GOLD EXCELLENCE AWARD
Excellence Awards 2020 Awards 2020
Best Branded Content Best Payment Bank in India
mCube2020 Asian Banker Magazine
BEST CFO BRANDON HALL EXCELLENCE AWARDS

BFSI – Large Cap category Best Advance in Technology for Crisis Management for e-RBC
Magzter Awards, 2021 Best Advance in Social Learning Technology for e-Gyanshala EXCELLENCE AWARD
Best Use of Blended Learning
Performance Challenge for
Best Learning Programme Supporting a Change Transformation Green Built Environment
Business Strategy
Best Unique or Innovative Learning & Development Programme IGBC

other than those mentioned in the scope of the assurance. TUVI's responsibility regarding this
verification is in accordance with the agreed scope of work which includes non-financial quantitative and
qualitative information disclosed by SBI. This assurance engagement assumes that the data and
information provided to us by SBI are complete and true.
Verification Methodology
Assurance Statement During the assurance engagement, TUVI adopted a risk-based approach, focusing on verification efforts
with respect to disclosures. TUVI has verified the disclosures and assessed the robustness of the
underlying data management system, information flows, and controls. In doing so:
To the Directors and Management  TUVI examined and reviewed the documents, data, and other information made available by
State Bank of India, SBI for non-financial KPI’s (non-financial disclosures);
Mumbai, India  TUVI conducted interviews with key representatives, including data owners and decision-
State Bank of India (hereafter 'SBI') commissioned TUV India Private Limited (TUVI) to conduct makers from different functions of SBI;
independent external assurance of non-financial information and key performance indicators (KPI)  TUVI performed sample-based reviews of the mechanisms for implementing the sustainability-
disclosed in SBI's Sustainability Report (hereinafter 'the Report') for the period April 1, 2020 to March related policies and data management (qualitative and qualitative);
31, 2021. The Report is based on the principles of Global Reporting Initiative (GRI) Standards. This  TUVI reviewed the level of adherence to principles of GRI standards: Core option.
assurance engagement was conducted in accordance with ISAE 3000 (revised) - "Limited Level".
Opportunities for Improvement
Management's Responsibility
Sustainability Assurance Service

The following are the opportunities for improvement reported to SBI. However, they are generally
SBI developed the Report’s content. SBI management is responsible for identifying material topics and consistent with SBI management's objectives and programs.
carrying out the collection, analysis, and disclosure of the information presented in the Report (web-  SBI may strengthen the management system to monitor the energy, waste and water data to
based and print), including website maintenance, integrity, and for ensuring its quality and accuracy in enable accurate disclosures during subsequent reporting
accordance with the applied criteria stated in the GRI standards: Core option, such that it’s free of  SBI can declare its role and targets (short, medium and long term) to address “evolving climate
intended or unintended material misstatements. risks”, “Green Finance” and other material topics
Scope and Boundary  SBI can establish and conduct internal audit of sustainability disclosure data. Periodic validation and
verification of data can be performed by internal team
The scope of work includes the assurance of the following non-financial performance / KPI disclosed in  SBI may opt ISO 14064 standard to derive the GHG intensity
the Report. In particular, the assurance engagement included the following:
 Review of the disclosures submitted by SBI; Our Conclusion
 Review of the quality of information; In our opinion, based on the scope of this assurance engagement, the “disclosures on sustainability
 Review of evidence (on a sample basis) for identified non-financial indicators performance” and reference information provides a fair representation of the material topics, related
TUVI has verified the below KPI’s disclosed in the Report strategies, and meets the general content and quality requirements of the GRI Standards: Core option.
Governance 102-18, 102-20, 103-01 to 103-3 Disclosures: TUVI is of the opinion that the reported disclosures generally meet the GRI Standards:
GRI 302: Energy 302-1, 302-3 to 302-5 Core option reporting requirements. SBI refers to general disclosure to Report contextual information
GRI 305: Emissions 305-1 to 305-5 about SBI, while the ‘Management Approach’ is discussed to Report the management approach for each
GRI 404: Training and Education 404-1 to 404-2 material topic. Report has been prepared in accordance with the GRI Standards: Core option’
GRI 405: Diversity and Equal Opportunity 405-1 Universal Standard: SBI followed GRI 101: Reporting Principles for defining report content and quality,
GRI 406: Non-Discrimination 406-1 GRI 102: General Disclosures were followed when reporting information about an Organization's profile,
GRI 413: Local Communities 413-1 strategy, ethics and integrity, governance, stakeholder engagement practices, and reporting process.
Furthermore, GRI 103 was selected for Management's Approach on reporting information about how an
The remote verification was conducted at SBI Corporate Team, during May 2021. The assurance
organization manages a material topic. TUVI is of the opinion that this report has been prepared in
activities were carried out together with a desk review as per reporting boundary. Applicable boundaries
accordance with the GRI Standards: Core option.
for disclosures are explained in the Report.
Topic Specific Standard: 200 series (Economic topics), 300 series (Environmental topics), and 400
Limitations series (Social topics); These Topic-specific Standards were used to Report information on the
TUVI did not perform any assurance procedures on the prospective information, such as targets, organization's impacts related to environmental and social topics. TUVI is of the opinion that the reported
expectations, and ambitions, disclosed in the Report. Consequently, TUVI draws no conclusion on the material topics and Topic-specific Standards that SBI used to prepare its Report are appropriately
prospective information. During the assurance process, TUVI did not come across any limitation to the identified and addressed.
agreed scope of the assurance engagement. TUVI expressly disclaims any liability or co-responsibility Limited Assurance Conclusion: Based on the procedures we have performed, nothing has come to
for any decision a person or entity would make based on this Assurance Statement. our attention that causes us to believe that the information subject to the limited assurance engagement
Our Responsibility was not prepared in all material respects. TUVI found the sustainability information to be reliable in all
material respects, with regards to the reporting criteria of the GRI Standards: Core option.
TUVI's responsibility in relation to this engagement was to perform a limited level of assurance and to
express a conclusion based on the work performed. This engagement did not include an assessment of In the context of Assurance, the following contemporary principles has been observed:
the adequacy or the effectiveness of SBI's strategy, management of sustainability-related issues or the
Evaluation of the adherence to other contemporary Principles
sufficiency of the Report against principles of GRI Standards: Core option, and ISAE 3000 (revised),
1|Page TÜV® 2|Page TÜV®
GRI Content
Inclusivity: Stakeholder identification and engagement is carried out by SBI on a periodic basis to
bring out key stakeholder concerns as material topics of significant stakeholders. In our view, the
Index For the GRI Content Index Service, GRI Services reviewed that the GRI
content index is clearly presented and the references for all disclosures
Report meets the requirements.
included align with the appropriate sections in the body of the report.
Materiality: The materiality assessment process has been carried out, based on the requirements of
the GRI Standards, considering topics that are internal and external to the SBI range of businesses.
The Report fairly brings out the aspects and topics and its respective boundaries of the diverse GRI Page Number/
operations of SBI. In our view, the Report meets the requirements. Disclosure Omission
Standard Direct Response
Responsiveness: TUVI believes that the responses to the material aspects are fairly articulated in the
report, i.e. disclosures on SBI policies and management systems including governance. In our view,
GRI 101: Foundation 2016
the Report meets the requirements. GRI 102: General Disclosures 2016
Impact: SBI communicates its sustainability performance through regular, transparent internal and
external reporting throughout the year, aligned with GRI, and its policy framework encompassing the
Organizational profile
Environmental, Social, Ethical and other policies. SBI reports on sustainability performance to the Top
102-1 Name of the organization 16
Management, who oversees and monitors the implementation and performance of objectives, as well
as progress against goals and targets for addressing sustainability-related issues. 102-2 Activities, brands, products, and services 16
This assurance statement has been prepared in accordance with the terms of our engagement. In
accordance to the ISAE 3000 (revised) requirements 102-3 Location of headquarters 16
Independence: 102-4 Location of operations 17
TUVI follows IESBA (International Ethics Standards Board for Accountants) Code which, adopts a
threats and safeguards approach to independence. It is confirmed that the assurance team is selected
102-5 Ownership and legal form 16
to avoid situations of self-interest, self-review, advocacy and familiarity. The assessment team was 102-6 Markets served 16-17
safeguarded from any type of intimidation.
Quality control: 102-7 Scale of the organization 16, 50
The assurance team complies with the code of ethics for professional accountants issued by the IESBA, 102-8 Information on employees and other workers 50-51
which includes independence and other requirements founded on fundamental principles of integrity,
objectivity, professional competence and due care, confidentiality and professional behaviour. In 102-9 Supply chain 73
accordance with International Standard on Quality Control, TUVI maintains a comprehensive system of Significant changes to the organization and its
quality control including documented policies and procedures regarding compliance with ethical 102-10 73
requirements, professional standards and applicable legal and regulatory requirements. supply chain
Our Assurance Team and Independence 102-11 Precautionary Principle or approach 11
TUVI is an independent, neutral third party providing sustainability services with qualified environmental 102-12 External initiatives 18, 28
and social specialists. TUVI states its independence and impartiality and confirms that there is "no
conflict of interest" with regard to this assurance engagement. In the reporting year, TUVI did not work 102-13 Membership of associations 18
with SBI on any engagement that could compromise the independence or impartiality of our findings,
Strategy
conclusions, and recommendations. TUVI was not involved in the preparation of any content or data
included in the Report, with the exception of this assurance statement. TUVI maintains complete 102-14 Statement from senior decision-maker 6-7
impartiality towards any individuals interviewed during the assurance engagement.
102-15 Key impacts, risks, and opportunities 6-10, 24
For and on behalf of TUV India Private Limited
Ethics and integrity
102-16 Values, principles, standards, and norms of behavior 19
102-17 Mechanisms for advice and concerns about ethics 20-21
Manojkumar Borekar Date: 25-05-2021 Governance
Project Manager and Reviewer Place: Mumbai, India
Head – Sustainability Assurance Service Project Reference No: 8118941704 102-18 Governance structure 21, 24
www.tuv-nord.com/in
102-19 Delegating authority 24
Executive-level responsibility for economic,
102-20 10, 24
environmental, and social topics
Role of highest governance body in setting purpose,
102-26 24
values, and strategy
Stakeholder engagement
3|Page TÜV®
102-40 List of stakeholder groups 34-35
102-41 Collective bargaining agreements 59
GRI Page Number/ Page Number/

Disclosure Omission GRI Standard Disclosure Omission
Standard Direct Response Direct Response
102-42 Identifying and selecting stakeholders 32 302-1 Energy consumption within the
46
organization
102-43 Approach to stakeholder engagement 34-35
302-3 Energy intensity 46
102-44 Key topics and concerns raised 34-37 GRI 302: Energy 2016
302-4 Reduction of energy consumption 47
Reporting practice
302-5 Reductions in energy requirements
Entities included in the consolidated financial 26-27, 49
102-45 16 of products and services
statements
GRI 305: Emissions 2016
102-46 Defining report content and topic Boundaries 11
103-1 Explanation of the material topic
102-47 List of material topics 36-37 36-37, 44
GRI 103: Management and its Boundary
102-48 Restatements of information 11 Approach 2016 103-2 The management approach and its
44
102-49 Changes in reporting 36-37 components
103-3 Evaluation of the management
102-50 Reporting period 11 36-37
approach
102-51 Date of most recent report 11 305-1 Direct (Scope 1) GHG emissions 46
102-52 Reporting cycle 11 305-2 Energy indirect (Scope 2) GHG
46
102-53 Contact point for questions regarding the report Back Cover emissions
GRI 305: Emissions
Claims of reporting in accordance with the GRI 305-3 Other indirect (Scope 3) GHG
102-54 11 2016 46
Standards emissions
102-55 GRI content index 87-91 305-4 GHG emissions intensity 46
102-56 External assurance 84-86 305-5 Reduction of GHG emissions 47, 49

GRI 403: Occupational Health and Safety 2018
Material Topics 103-1 Explanation of the material topic
36-37, 12, 57
GRI 201: Economic Performance 2016 and its Boundary
103-1 Explanation of the material topic GRI 103: Management 103-2 The management approach and its
36-38 12, 57
and its Boundary Approach 2016 components
GRI 103: 103-3 Evaluation of the management
103-2 The management approach and its 36-37
Management 38 approach
components
Approach 2016
103-3 Evaluation of the management 403-1 Occupational health and safety
36-37 57
approach management system
GRI 201: Economic 201-1 Direct economic value generated 403-2 Hazard identification, risk
38 57
Performance 2016 and distributed assessment, and incident investigation
GRI 203: Indirect Economic Impacts 2016 403-3 Occupational health services 13-14, 57
36-37, 43, 60, 74 403-4 Worker participation, consultation,
and its Boundary
and communication on occupational 57
GRI 103: Management 103-2 The management approach and its
43, 60, 74 health and safety
Approach 2016 components GRI 403: Occupational
103-3 Evaluation of the management Health and Safety 2018 403-5 Worker training on occupational
36-37 57
approach health and safety
GRI 203: Indirect 203-2 Significant indirect economic
43, 67-69, 76-77 403-6 Promotion of worker health 14, 57
Economic Impacts 2016 impacts
GRI 302: Energy 2016 403-7 Prevention and mitigation of
occupational health and safety impacts 57
36-37, 44 directly linked by business relationships
and its Boundary
GRI 103: Management 103-2 The management approach and its 403-8 Workers covered by an
44 occupational health and safety 57
Approach 2016 components
103-3 Evaluation of the management management system
36-37
approach
Page Number/ Page Number/

GRI Standard Disclosure Omission GRI Standard Disclosure Omission
Direct Response Direct Response
GRI 404: Training and Education 2016 418-1 Substantiated complaints
GRI 418: Customer
103-1 Explanation of the material topic concerning breaches of customer privacy 75
36-37, 50, 53 Privacy 2016
and its Boundary and losses of customer data
GRI 103: Management 103-2 The management approach and its Non-GRI: Stakeholder Awareness on Sustainability
50, 53
Approach 2016 components 103-1 Explanation of the material topic
36-37, 55
103-3 Evaluation of the management and its Boundary
36-37
approach GRI 103: Management 103-2 The management approach and its
55
404-1 Average hours of training per year Approach 2016 components
53
GRI 404: Training and per employee 103-3 Evaluation of the management
36-37
Education 2016 404-2 Programs for upgrading employee approach
54-55
skills and transition assistance programs Non-GRI: Customer Satisfaction
GRI 405: Diversity and Equal Opportunity 2016 103-1 Explanation of the material topic
36-37, 72, 76-79
103-1 Explanation of the material topic and its Boundary
36-37, 50-51
and its Boundary GRI 103: Management 103-2 The management approach and its
72, 76-79
GRI 103: Management 103-2 The management approach and its Approach 2016 components
51
Approach 2016 components 103-3 Evaluation of the management
36-37
103-3 Evaluation of the management approach
36-37
approach
GRI 405: Diversity and
405-1 Diversity of governance bodies and
Equal Opportunity 51
employees
2016
GRI 406: Non-discrimination 2016
36-37, 51
and its Boundary
51
36-37
approach
GRI 406: Non- 406-1 Incidents of discrimination and
52
discrimination 2016 corrective actions taken
GRI 413: Local Communities 2016
36-37, 60
and its Boundary
60
36-37
approach
413-1 Operations with local community
GRI 413: Local
engagement, impact assessments, and 60-71
Communities 2016
development programs
GRI 418: Customer Privacy 2016
36-37, 75
and its Boundary
75
36-37
approach
BRR Mapping FY 2020-21

SBI’s Sustainability and Business Responsibility Business Responsibility (BR) report of the Bank
(BR) Policy are extended to all its subsidiaries, who is being published since FY 2012-13. This is the
actively support the BR initiatives undertaken by eighth report and has been integrated with SBI’s
the Bank. However, the initiatives and programmes sustainability Report for FY 2020-21. The report
on social and environmental issues are designed can be accessed on the Bank’s website at
In conformance to the requirements of the Section A: General information and executed by the independent Boards of the https://www.sbi.co.in or https://bank.sbi
clause (f) of sub regulation (2) of regulation 34
of Security Exchange Board of India (SEBI’s) about SBI subsidiaries. With respect to its supply chain, SBI
expects and encourages its suppliers, vendors and Details of Director/ Directors responsible for BR
Listing Regulations, the Sustainability Report for
The Bank’s activities are covered under other business partners to conduct their business
FY 2020-21 is aligned with the nine principles A) Details of the Director/Directors responsible
“Group K: Financial and Insurance Activities of in a responsible manner.
of the National Voluntary Guidelines on Social, for implementation of the BR policy/policies
National Industrial Classification (All Economic
Environmental and Economic Responsibilities
of Business (NVGs) notified by the Ministry of
Activities)-2008” published by the Ministry of Section D: Business DIN Number: 8335249
Statistics and Programme Implementation. The
Corporate Affairs, Government of India.
Bank’s activities fall under the following industrial Responsibility Information Name: Shri Challa Sreenivasulu Setty
activity code: In accordance with the SEBI requirements,
B) Details of the BR Head:
Group Class Description
Sr. No. Particulars Details
641 6419 Monetary Intermediation – Other Monetary intermediation
1 DIN Number (if applicable) 8335249
Other Details About the Bank 2 Name Shri Challa Sreenivasulu Setty
CIN Not Applicable 3 Designation Managing Director (Retail and Digital Banking)
State Bank of India, State Bank Bhavan, Corporate 4 Telephone Number 022-22028713
Address Centre, Madame Cama Road, Nariman Point, Mumbai
- 400 021, India 5 Email ID md.rdb@sbi.co.in
Website https://www.sbi.co.in, https://bank.sbi
E-mail Id gm.snb@sbi.co.in
Financial Year Reported FY 2020-21

Three services that the Company Deposits, Loans and Advances, Remittances and
provides (as in the Balance Sheet) Collections
National: 22,219 branches in India as on

Total number of locations where business
31st March 2021
activity is undertaken by the Company
International: 229 branches in 31 countries
Markets served by the Company National and International
Section B: Financial Details of Section C: Other Details

the Company Participation of subsidiaries and business partners
For the Bank’s financial performance for FY in BR initiatives
2020-21, please refer to the section on economic
The details of the subsidiaries and joint ventures
performance in Financial Capital Management
are provided in the Bank’s Annual Report FY2020-
chapter.
21, under the heading “Subsidiaries”.

Principle-wise (as per NVG) BR Policy/policies (Reply in Y/N) National Voluntary Guidelines (NVG) Mapping
Sr. no. Questions Principles P1 - P9 Principle Description Page Number
1 Does the Bank have a policy/policies for Yes Businesses should conduct and govern themselves with Ethics,
each of the 9 principles prescribed by SEBI Principle 1 21-22, 52, 75
Transparency and Accountability
2 Has the policy been formulated Yes Businesses should provide goods and services that are safe and 26-29, 42-43,
in consultation with the relevant Principle 2
contribute to sustainability throughout their life cycle 46-49
stakeholders?
Principle 3 Businesses should promote the well-being of all employee 50-53, 59
3 Does the policy conform to any national / SBI’s Sustainability and Business Responsibility
international standards? If yes, specify? (BR) Policy is based on National Voluntary Businesses should respect the interests of, and be responsive towards
(50 words) Guidelines on Social, Environmental and Economic Principle 4 all stakeholders, especially those who are disadvantaged, vulnerable and 34-35
Responsibilities of Business, as released by Ministry marginalised
of Corporate Affairs, Government of India, in 2011.
Principle 5 Businesses should respect and promote human rights 52
4 Has the policy been approved by the Yes, the Sustainability and Business Responsibility Business should respect, protect, and make efforts to restore the 24, 28-29,
Central Board? If yes, has it been signed (BR) Policy of the Bank has been approved by the Principle 6
environment 44-47
by MD/ owner/CEO/appropriate Board Central Board.
Director? Businesses, when engaged in influencing public and regulatory policy,
Principle 7 18, 28, 54
should do so in a responsible manner
5 Does the company have a specified The Chairman has instituted a Corporate Centre
Committee of the Board/Director/Official Sustainability Committee (CCSC) to oversee the Principle 8 Businesses should support inclusive growth and equitable development 42-43, 60-71
to oversee the implementation of the implementation of the policy. This committee is
policy? headed by a Deputy Managing Director, who is also Businesses should engage with and provide value to their customers and
Principle 9 72-73, 76-79
designated as the Chief Sustainability Officer consumers in a responsible manner
6 Indicate the link for the policy to be viewed https://www.sbi.co.in or https://bank.sbi
online? under the link, Corporate Governance /
Sustainability and BR Policy.
7 Has the policy been formally Yes

communicated to all relevant internal and
external stakeholders?
8 Does the company have in-house structure Yes
to implement the policy/policies?
9 Does the Company have a grievance Yes
redressal mechanism related to the
policy/policies to address stakeholders’
grievances related to the policy/policies?
10 Has the company carried out independent The working of the Sustainability and Business
audit/evaluation of the working of this Responsibility (BR) Policy is evaluated internally.
policy by an internal or external agency? Further, the Sustainability Report published for
FY 2020-21 discloses information on the Bank’s
economic, environmental and social performance
for the reporting period and has been reviewed and
collated in a comprehensive manner.

Glossary Abbreviation
FEDAI
Full Form
Foreign Exchange Dealers
Association of India
Abbreviation
ITI
IVR
Full Form
Industrial Training Institutes
Interactive Voice Response
FI Financial Inclusion
Abbreviation Full Form Abbreviation Full Form KCC Kisan Credit Card
FI&GS Financial Inclusion And
ADGC Apex-Level Data Governance CGM Chief General Manager KYC Know Your Customer
Government Schemes
Council CII Confederation of Indian Industries FICCI Federation of Indian Chambers of L&D Learning and Development
ADWM Automated Deposit and Commerce and Industry
Withdrawal Machine CISO Chief Information Security Officer LCPCs Liability Centralised Processing
FLC Financial Literacy Centre
AGM Assistant General Manager CMS Complaint Management System Centres
FPCs Farmer Producer Companies LHO Local Head Office
AI Artificial Intelligence CoE Centre of Excellence
FY Fiscal Year LITMAS Litigation Management System
AOF Account Opening Form COVID-19 Corona Virus Disease 2019
GAP Gadadhar Abhyudaya Prakalpa LOS Laon Originating System
APP Annual Payment Plan CPC Central Processing Centre
GCC Green Channel Counter MATMs Micro ATMs
APY Atal Pension Yojana CRM Credit Risk Management
GITC Global Information Technology MD Managing Director
ART CEF Automatic Real Time Customer CRMD Credit Risk Management Centre
Emotions Feedback Department MIS Management Information System
GJ Gigajoules
ASSOCHAM Associated Chambers of CRO Chief Risk Officer ML Machine Learning
Commerce of India GM General Manager
CS Cyber Security MOOC Massive Open Online Course
ATI Apex Training Institute GoI Government of India
CSMT Chhatrapati Shivaji Maharaj MOU Memorandum of Understanding
ATM Automated Teller Machine Terminus GRC Green Remit Card
BC Business Correspondent CSP Customer Service Point MSME Micro, Small and Medium
GRI Global Reporting Initiative
Enterprise
BCP Business Continuity Plan CSR Corporate Social Responsibility HR Human Resource MT Million Tones
BEE Bureau of Energy Efficiency CTS Cheque Truncation System HRMS Human Resources Management MVS MultiVendor Software
BFSI Banking, Financial Services and DACs Data Archival Centres System
MW Megawatt
Insurance IA Internal Audit
DGC Data Governance Council NEFT National Electronic Fund Transfer
BIOS Basic Input Output System IBA Indian Banks’ Association
DGM Deputy General Manager NGGCSOC Next Gen Global Cyber Security
Bps Basis points IBCE Integrated Business Continuity
DMD Deputy Managing Director Operations Centre
BR Business Responsibility Exercise
NGO Non-Governmental Organisation
E2E Exchange-To-Exchange IBG International Banking Group
BRICS Brazil, Russia, India, China and NPA Non-Performing Asset
South Africa EBCT Evidence Based Compliance ICAI Institute of Chartered Accountants
BRR Business Responsibility Report Testing of India NRI Non-Resident Indian
EGRM Enterprise and Group Risk IGBC Indian Green Building Council NSDC National Skill Development
BSC Branch Server Consolidation Management
IHA India Health Alliance Corporation
CB Central Board EGRMD Enterprise and Group Risk NSDF National Sports Development Fund
Management Department IIBF Indian Institute of Banking and
CBEEV Centre for Battery Engineering and Finance NVG-SEE National Voluntary Guidelines
Electric Vehicles EIB European Investment Bank
IIRC International Integrated Reporting for Social, Environmental and
CBG Compressed Bio Gas EMI Equated Monthly Instalments Council Economic Responsibilies of
CC Corporate Centre EPS End Point Security IISc Indian Institute of Science Business
OBCs Other Backward class
CCL Center for Creative Leadership ESG Environment Social Governance IIT Indian Institute of Technology
India Private Limited ODAC Outsourced DACs
e-Pay Payment Aggregator IoT Internet of Things
CCSC Corporate Centre Sustainability ORMD Operations Risk Management
EV Electric Vehicle IR Integrated Reporting Department
CDK Cheque Deposit Kiosk
EWLP Enterprise-Wide Loyalty IS Information System OTP One Time Password
CDS Career Development System Programme
ISD Information Security Department PAPL Pre-Approved Personal Loans
CEO Chief Executive Officer
IT Information Technology PCI-DSS Payment Card Industry Data
Security Standard

Abbreviation Full Form Abbreviation Full Form

PF&S Project Finance and Structuring SBIL State Bank Institute of Leadership
PG Payment Gateway SBILD SBI Regional Institutes of L&D
PIN Personal Identification Number SBIRB State Bank Institute of Rural
Banking
PMJDY Pradhan Mantri Jan-Dhan Yojana
SBSOC State Bank Security Operations
PMJJBY Pradhan Mantri Jeevan Jyoti Bima Centre
Yojana SBTRACS State Bank Training Content
PMSBY Pradhan Mantri Suraksha Bima Solution
Yojana SBU Strategic Business Unit
PPE Personal Protective Equipment
SC Scheduled Caste
PPP Public-Private Partnership
SDG Sustainable Development Goal
PRM Proactive Risk Management
SEBI Securities and Exchange Board of
PV Photovoltaic India
PwD Person with Disability SHG Self-Help Group
R&D Research and Development SME Small and Medium-Sized

Enterprises
RARR Risk Assessment and Risk
SMS Short Message Service
Reporting
RBC Role Based Certification SOP Standard Operating Procedure
RBI Reserve Bank of India SPL PAPL Special Pre-Approved Personal

Loan
RE Renewable Energy
ST Schedule Tribes
RFIA Risk-Focused Internal Audit
STEPS Service, Transparency, Ethics,
RISE Rights, Integration, Skills and Politeness and Sustainability
Education STS Science and Technology for Society
RLMS Retails Loan Management System
SWAYAMs Barcode-based self passbook
RMCB Risk Management Committee of printing kiosks
the Board TBA Trigger Based Audit
RMD Risk Management Department
UN United Nations
RRB Regional Rural Banks
UN SDG United Nation Sustainable
RTGS Real-Time Gross Settlement Development Goals
RSETI Rural Self-Employment Training UNESCO United Nations Educational,
Institute Scientific and Cultural Organisation
SABERA Social and Business Enterprise UNGC United Nations Global Compact
Responsible Award UPI Unified Payments Interface
SAMEIP SBI Foundation and Microsoft
USAID United States Agency for
Employability Initiative for Persons
International Development
with Disabilities
USB Universal Serial Bus
SATAT Sustainable Alternative Towards
Affordable Transportation WC Working capital
SBI State Bank of India WFA Work From Anywhere
SBICB State Bank Institute of Consumer YFI Youth for India
Banking
SBICRM State Bank Institute of Credit and YONO You Only Need One
Risk Management Y-o-Y Year-on-Year
Flag hoisting at Corporate Centre office to observe Republic Day

(26th January 2021)
Transformative Resilience
State Bank Bhavan,

Madam Cama Road,
Mumbai 400021
Contact person:
Mr. R. K. Singhal
+91 22-22740977
This Report is printed on environment-friendly paper

100 | Sustainability Report 2020-21 GRI 102-53

140621-Sustainability Report (SR) Year 2020-21

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Transformative Resilience

Sustainability Report 2020-21 | 1

2 | Sustainability Report 2020-21 Sustainability Report 2020-21 | 3

45.92 crore 57 lakh crore+ `144.88 crores

4 | Sustainability Report 2020-21 Sustainability Report 2020-21 | 5

Message from the Leadership

Shri Challa Sreenivasulu Setty Shri Ashwani Bhatia

Message from the About This Report

SBI’s sixth consecutive Sustainability Report

GRI 102-11, GRI 102-46, GRI 102-48, GRI 102-50,

Building Resilient Communities India. Additionally, 10 hubs established with State

SBI’s Social Media Presence

1.79 crore+ Facebook likes 42 lakh+ Twitter followers

40 crore+ YouTube video views 3.5 lakh+ YouTube subscribers

20 lakh+ Instagram followers 19 lakh+ LinkedIn followers

How We Global Presence

Building a Resilient Institution

Vigilance the Central Board comprised of 13 members. The

Ethics and The Bank also conducted suo-motu

Risk Governance Structure

Central Board (CB)

Deputy Managing Director &

CGM (Risk Management) CGM (CISO)

22 | Sustainability Report 2020-21 Sustainability Report 2020-21 | 23

Audit Framework Branch Audits

Utilisation of proceeds from green bonds and green loan:

Sr. Project Description Project Location Estimated Emission

1 50 MW Solar Project Tamil Nadu 77,086

2 50 MW Solar Project Tamil Nadu 71,928

3 49 MW Solar Project Tamil Nadu 84,904

4 50 MW Solar Project Karnataka 82,607

5 34 MW Solar Project Karnataka 47,897

7 70 MW Solar Project Andhra Pradesh 107,357

100 MW Solar Project

A Investing for Impact

9,137 USD 625 USD 274 million

28 | Sustainability Report 2020-21 GRI 102-12 Sustainability Report 2020-21 | 29

SHG Financing Financing Solar Photovoltaic Pump Sets

SBI Skill Loan Scheme Compressed Bio Gas (CBG) Under

Grid-Connected Rooftop Solar PV Home Loan

30 | Sustainability Report 2020-21 Sustainability Report 2020-21 | 31

Redesign existing procedures

Materiality Improve communication with

The Second BFSI Roundtable

The Bank identifies The Bank The Bank The Bank

32 | Sustainability Report 2020-21 GRI 102-42 Sustainability Report 2020-21 | 33

Mode(s) of Frequency of SBI's Response Mode(s) of Frequency of SBI's Response

Regulatory Meetings to Ongoing Consultation and Ethics and

Industry Participation and Ongoing Collaboration for policy How We Create

Domestic Deposits NRI Business

31,24,616 Three-Year Performance of NRI Deposits

FY 2020-21 FY 2019-20 FY 2018-19 FY21 FY20 FY19

Economic value generated FY21 FY20 FY19

Key Loan Offerings Total Value of Loans Provided in Number of Beneficiaries in

Scheduled Caste (SC) 112 1,092

Schedule Tribes (ST) 33 352

Other Backward Classes (OBCs) 345 3,598

Three-Year Performance of Education Loans (` in crores)

FY21 FY20 FY19

40 | Sustainability Report 2020-21 Sustainability Report 2020-21 | 41

SBI recognises the need to create awareness

Managing SBI’s Environmental Impact

Green Buildings Tree Plantation