Current context: State Bank of India has announced 'residential builder finance with buyer guarantee' (RBBG) scheme on 8th January 2020.
a. State Bank of India
b. Bank of India
c. HDFC
d. ICICI
- The 'residential builder finance with buyer guarantee' (RBBG) scheme aims at giving a push to residential sales and improve homebuyers' confidence.
- Under the scheme, the SBI will issue a guarantee for completion of select residential projects to customers who have availed home loans from it.
- The scheme will focus on affordable housing projects priced up to 2.50 crore rupees in 10 cities initially.
- The guarantee would be given by the bank till the project gets the occupation certificate (OC).
- The guarantee will be available for RERA registered projects.
Question:
Q.1 Which bank has announced the 'residential builder finance with buyer guarantee' (RBBG) scheme recently?a. State Bank of India
b. Bank of India
c. HDFC
d. ICICI
