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.
The external benchmark for all floating rate loans for MSME, housing and retail loans effective October 1, 2019.
The default by Altico has resulted in concerns over the wider implications.