Pax said its earlier 'Hall of Shame' list published in 2014 had 151 financial institutions. State-run banking behemoth 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. Of these, 112 financial institutions are still in the 2016 list and 34 have been removed, while 44 new ones have been included. Most financial institutions named in the Pax list are from countries that have not signed this convention. In its 275-page report, PAX said the Convention on Cluster Munitions (CCM) categorically bans use, production, stockpiling and transfer of cluster munitions.

Source: dna June 19, 2016 10:52 UTC