State Bank of India Named In 'Hall of Shame' List For Cluster Bombs Funding

[volatile]

http://www.defenseworld.net/news/16...__List_For_Cluster_Bombs_Funding#.V2fUitJ95dg

File photo of a cluster bomb.
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State Bank of India (SBI) has been named in a 'Hall of Shame' list of 158 banking and financial institutions globally that have invested billions of dollars in companies making cluster bombs.

SBI, the only Indian entity joins the list of global giants like JP Morgan, Barclays, Bank of America and Credit Suisse that invested over $28 billion in seven producers of cluster munitions between June 2012 and April 2016, PTI reported citing a report by Dutch campaign group PAX.

While SBI said it "always works in accordance with local laws and regulations" and there is "no prohibition, whatsoever either in US or in India to finance such commercial projects", PAX said the investments have been made in these cluster bomb producers despite an international ban. In its 275-page report, PAX said the Convention on Cluster Munitions (CCM) categorically bans use, production, stockpiling and transfer of cluster munitions. This convention was signed by 94 countries in 2008 and it came into force from August 1, 2010. Most financial institutions named in the Pax list are from countries that have not signed this convention. However, there are also banks from the countries that have adopted this treaty over years. The maximum number of 74 banks are from the US, followed by China (29) and South Korea (26).

SBI has been included in the list because of its exposure to Orbital ATK, a US-based company specialising in the design, manufacture and launch of small and medium-class space and rocket systems for commercial, military and other government customers. Orbital ATK is one of the world's largest manufacturers of ammunition and a leading supplier of precision systems and electronic warfare.

 

[Cherokee]

Its better SBI funds go towards acquiring cluster bombing capabilities than funding malllyas and adanis .

 

[Stephen Cohen]

Its better SBI funds go towards acquiring cluster bombing capabilities than funding malllyas and adanis .

Adani is OK ; he has not invested in liquor and airlines and cricket teams

mallya always had a plan --to spend on Kingfisher girls and then default

 

[Cherokee]

Adani is OK ; he has not invested in liquor and airlines and cricket teams

mallya always had a plan --to spend on Kingfisher girls and then default

Bank ka kaam hai profit banana morals dekhna nae . You would be surprised to Know Kingfisher Liquor business is actually in positive .

And Adani is sucking blood of Indians more than Mallya

http://zeenews.india.com/business/n...s-8-times-more-than-vijay-mallya_1882491.html

 

[Laozi]

The maximum number of 74 banks are from the US, followed by China (29) and South Korea (26).

Only One Indian Entity

That is the Shameful Part

 

[volatile]

So Indians are violating UN resolutions against use of cluster bombs on state level ?

 

[Nimitam]

So Indians are violating UN resolutions against use of cluster bombs on state level ?

Can you Read ?

... Most financial institutions named in the Pax list are from countries that have not signed this convention.

 

[T90TankGuy]

So Indians are violating UN resolutions against use of cluster bombs on state level ?

This has to be the gem of the day .
@Joe Shearer @Bregs

 

[me_itsme]

So Indians are violating UN resolutions against use of cluster bombs on state level ?

Yup. It's true.

 

[volatile]

This has to be the gem of the day .
@Joe Shearer @Bregs

Yes Irony is when facts are presented people think of it as joke

http://www.unog.ch/80256EE600585943/(httpPages)/F27A2B84309E0C5AC12574F70036F176?OpenDocument
The Convention on Cluster Munitions was concluded by the Dublin Diplomatic Conference on Cluster Munitions at Dublin on 30 May 2008.

The Convention is the result of the Oslo-process, a diplomatic process that included States, civil society, theInternational Committee of the Red Cross as well as the United Nations. Following up on the progress made at the Lima Conference (May 2007), the Viena Conference (December 2007), and the Wellington Conference(February 2008), in May 2008 107 participating states agreed to adopt the text of the new convention at the Dublin Conference on cluster munitions. In doing so, they keept their commitment made in the Oslo Declaration of February 2007, to:

“Conclude by 2008 a legally binding international instrument that prohibits the use and stockpiling of cluster munitions that cause unacceptable harm to civilians and secure adequate provision of care and rehabilitation to survivors and clearance of contaminated areas”.

The new Convention prohibits all use, stockpiling, production and transfer of cluster munitions, as defined in the Convention. The Convention also addresses assistance to victims, clearance of contaminated areas and destruction of stockpiles. Furthermore, it includes transparency measures as well as guidance to address possible compliance issues.

The Convention was opened for signature at a Signing Conference in Oslo on 3 December 2008 and entered into force on 1 August 2010 - six months after its ratification by 30 States parties.

The United Nations plays a key role in the efforts to prevent the use of cluster munitions causing unacceptable humanitarian harm. In his message to the Oslo signing event, the UN Secretary-General emphasized that this Convention “marks a major step forward in global efforts to protect civilians and control the noxious spread of deadly, inhumane weapons”.

The full text of the message by the Secretary-General was read in Oslo by Mr. Sergio Duarte, UN High Representative for Disarmament Affairs.

 

[T90TankGuy]

Yes Irony is when facts are presented people think of it as joke

http://www.unog.ch/80256EE600585943/(httpPages)/F27A2B84309E0C5AC12574F70036F176?OpenDocument
The Convention on Cluster Munitions was concluded by the Dublin Diplomatic Conference on Cluster Munitions at Dublin on 30 May 2008.

The Convention is the result of the Oslo-process, a diplomatic process that included States, civil society, theInternational Committee of the Red Cross as well as the United Nations. Following up on the progress made at the Lima Conference (May 2007), the Viena Conference (December 2007), and the Wellington Conference(February 2008), in May 2008 107 participating states agreed to adopt the text of the new convention at the Dublin Conference on cluster munitions. In doing so, they keept their commitment made in the Oslo Declaration of February 2007, to:

“Conclude by 2008 a legally binding international instrument that prohibits the use and stockpiling of cluster munitions that cause unacceptable harm to civilians and secure adequate provision of care and rehabilitation to survivors and clearance of contaminated areas”.

The new Convention prohibits all use, stockpiling, production and transfer of cluster munitions, as defined in the Convention. The Convention also addresses assistance to victims, clearance of contaminated areas and destruction of stockpiles. Furthermore, it includes transparency measures as well as guidance to address possible compliance issues.

The Convention was opened for signature at a Signing Conference in Oslo on 3 December 2008 and entered into force on 1 August 2010 - six months after its ratification by 30 States parties.

The United Nations plays a key role in the efforts to prevent the use of cluster munitions causing unacceptable humanitarian harm. In his message to the Oslo signing event, the UN Secretary-General emphasized that this Convention “marks a major step forward in global efforts to protect civilians and control the noxious spread of deadly, inhumane weapons”.

The full text of the message by the Secretary-General was read in Oslo by Mr. Sergio Duarte, UN High Representative for Disarmament Affairs.

You do realise that this has nothing to do with cluster ammunition? read the article again.

 

[Joe Shearer]

Can you Read ?

Stupid question. He so clearly can't; or can't.

 

[volatile]

You do realise that this has nothing to do with cluster ammunition? read the article again.

Should i paste with words like storage ,aiding ,producing for cluster bombs if its enough for ya ?

 

[My-Analogous]

You do realise that this has nothing to do with cluster ammunition? read the article again.

 

[guest11]

So Indians are violating UN resolutions against use of cluster bombs on state level ?

Thanks for this pearl of wisdom. I was feeling tired after a long day. Took a screenshot.

Neither India nor Pakistan is a signatory to Convention on Cluster Munitions (CCM). So neither India nor SBI has broken any international laws.

Before diving in head first to troll, atleast read the damn article.

SBI has been included in the list because of its exposure to Orbital ATK, a US-based company specialising in the design, manufacture and launch of small and medium-class space and rocket systems for commercial, military and other government customers. Orbital ATK is one of the world's largest manufacturers of ammunition and a leading supplier of precision systems and electronic warfare.