State Bank of India and real estate developers’ body CREDAI (Confederation of Real Estate Developers’ Associations of India) have signed a memorandum of understanding (MoU) to jointly conduct various initiatives towards development of the realty sector. The MoU will be in force for a period of 3 years.
Each of them will leverage their individual strengths and collaborate in areas to promote ‘housing for all’. CREDAI is the largest real estate association in the country with over 11,500 members. The MoU is meant to mobilize the credibility of our members and the reach of the largest bank in India to cater to both home loans and construction finance requirements of the real estate sector.
Important Takeaways from above News for BOB PO Exam-
- SBI and CREDAI have signed an MoU for concessional loan for housing projects
- Full form of CREDAI is Confederation of Real Estate Developers’ Associations of India
- The MoU will be in force for a period of 3 years.
If you have any other takeaways, do share with us in the comment section
Source- Business Standard