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State Bank of India, India Mortgage Guarantee sign MOU

State Bank of India and India Mortgage Guarantee Corp. signed a memorandum of understanding to offer housing loans to the nonsalaried customer segment, Press Trust of India reported March 19.

The partnership will allow the bank to introduce more products in the mortgage guarantee backed home segment.

The two companies are offering a new mortgage guarantee scheme that will allow nonsalaried or self-employed customers to avail themselves of higher loans.