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State Bank of India has entered into an agreement with Confederation of Real Estate Developers’ Association of India (CREDAI) to collaborate and work towards the development of the real estate sector, specifically aimed at developing affordable housing and greenhousing projects. This initiative will help millions of home buyers fulfill their dream of owning a home. SBI, the largest mortgage lender, will give CREDAI member developers an interest concession up to 35bps for construction finance for eligible affordable housing projects.
Bengaluru-based Ujjivan Small Finance Bank (SFB) is planning to convert all its existing non banking finance company (NBFC) branches into small banks. Currently, the bank has 457 branches out of which it includes less than 200 NBFC bank branches, that have been converted to bank branches. The objective of formation of small finance bank is to cater the needs of the underserved customer segment with a full range of banking services.
Private sector lender, Indusind Bank has inaugurated its 94th branch in Rajasthan at Bhinder, Udaipur District, which is famous for its silver and cloth market. The branch will cater to the needs of the SME customers in the district of Rajasthan state.
Indiabulls Housing Finance has reported a 24 per cent increase in net profit for the March quarter.Net profit for the fourth quarter of this fiscal year stood at Rs. 841 crore as against from Rs. 676 crore a year ago. Vice chairman, Gagan Banga, Indiabulls, stated that the company has observed a good growth in the geographies of Bombay, Pune, Bangalore and Hyderabad in its home loan portfolio.
One of the leading integrated marketing and communications agency providers, Mogae media, has tied with Kotak Mahindra Bank for providing its call to action service. Tango Media, which is a wholly owned subsidiary of the company, has developed this initiative that enables brands to connect better and quicker with their target audiences on the mobile.
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