The State Bank of India (SBI) was named in the Hall of Shame list of 158 banking institutions that have invested billions of dollars in companies making cluster bombs. The list was prepared by Dutch campaign group PAX Worldwide Investments in Cluster Munitions report. The report looks at investments into companies involved in the production of cluster munitions. The Convention on Cluster Munitions (CCM) categorically bans the use, production, stockpiling and transfer of cluster munitions. This was signed by 94 countries in 2008 and it came into force from August 2010.
State Bank of India (SBI) is the only Indian entity on the list that includes global giants like JP Morgan, Barclays, Bank of America and Credit Suisse. However, the maximum number of 74 banks are from the US, followed by China (29) and South Korea (26). In total, 158 financial institutions invested over 28 billion US dollars in the seven companies researched in the report between June 2012 and April 2016.
So let’s discuss some questions related to this post :
1. Name the Indian bank which has its name in Hall Of Shame list of Banks funding Cluster Bomb Makers?
2. The Hall Of Shame list of Banks funding Cluster Bomb Makers was prepared by which company?