- The State Bank of India launched the 'Residential Builder Finance with Buyer Guarantee (RBBG)' scheme. The objective of this scheme is to push Residential Sales and Improve Homebuyers' Confidence.
- Under this scheme, the Bank will issue a guarantee for completion of select residential projects to customers who have availed home loans from it.
- It will also focus on affordable housing projects priced up to 2.50 crore rupees in 10 cities initially. And, the guarantee would be given by the bank until the project gets the occupation certificate (OC).
i) SBI was founded on 2nd June 1806 named 'Bank of Calcutta'. And, On 1st July 1955, it became renamed as the State Bank of India.
ii) HQ - Nariman Point, Mumbai, Maharashtra.
iii) Current, SBI Chairman - Rajnish Kumar
Published On : 09 Jan 2020
Current Affair
