Finance
Biggest India Bank Torn Between BlackRock and Funding Coal
- State Bank of India one of nation’s biggest energy lenders
- Investors raise concerns about bank’s fossil fuel lending
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India’s biggest bank is caught between investors like Larry Fink and Narendra Modi.
State Bank of India needs to finance coal projects to meet the Indian leader’s push to electrify more homes, yet it wants to back renewable projects to appease global money managers including Fink’s BlackRock Inc., Storebrand ASA and Amundi SA. For now it’s doing a bit of both.