The loan facility has been extended at an interest rate linked to 3-month MCLR of the bank and has a door-to-door tenure of 15 years.

The bank said it offers to sale up to 1,04,59,949 equity shares subject to approval from the Sebi.

This is the seventh consecutive cut in lending rates by the bank this fiscal.

The fund will finance 1,600 stalled housing projects comprising 4.58 lakh housing units across India, said FM Sitharaman.

Growth can come back. Because of a lot of (reforms), economy is in transition, said SBI chief Rajnish Kumar.

The bank said the financial assets were showcased on October 12 and the e-auction will take place on November 7.

The government and regulators, said it has three top bankers from various lenders as its deputy chairmen.

The bank had on October 1 lost its spot to Bajaj Finance in the coveted club of top-10 most valued domestic companies.

The rate reduction is not applicable to the repo-linked loans.

DHFL said, the company, in the past 12 months has repaid obligations of nearly Rs 45,000 crore.