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08-Sep2016

SBI inks pact with Tata Housing to tap government employees

State Bank of India has entered into partnership with Tata Housing that would enable easier financing and purchase of homes. This step has been taken in order to cash in on the opportunity arising out of increase in housing allowance under the 7th Central Pay Commission.

Under this partnership, government employees and defence personnel having SBI Salary accounts will get a better deal on TATA Housing Homes, should they avail a SBI Home Loan for the same.

The bank has reported 31.73% fall in its net profit at Rs 2520.96 crore for the quarter ended June 30, 2016 as compared to Rs 3692.43 crore for the same quarter in the previous year. However, total income of the bank increased by 9.38% to Rs 48928.60 crore for the quarter under review from Rs 44730.87 crore for the corresponding quarter of the previous year.



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