State Bank of Travancore (SBT), an associate of State Bank of India, has launched a scheme named ‘SBT Contractor Plus’ to provide hassle-free loans to contractors of various work relating to public infrastructure. Under this new scheme, the bank provides guarantee fee for loans up to Rs 50 lakh. Concession in interest rate is also available for contractors under various categories. This new scheme includes all registered/empanelled contractors and sub-contractors undertaking works on behalf of Central/State Government Departments/undertakings/multinational corporations and organisations.
State Bank of Travancore has reported a fall of 59.20% in its net profit at Rs 55.34 crore for the quarter ended September 30, 2013 as compared to Rs 135.63 crore for the same quarter in the previous year. However, total income of the bank increased by 16.43% at Rs 2566.09 crore for quarter under review as compared to Rs 2203.92 crore for the quarter ended September 30, 2012.
