The government has taken ownership of two apex financial institutions — the National Housing Bank and the National Bank for Agriculture and Rural Development — from the RBI.
NHB is a regulatory institution that promotes and regulates the flow of credit to housing, while Nabard carries out the same role for agriculture.
In a statement issued here on Wednesday, the RBI said that it has sold its entire stake in Nabard and NHB amounting to Rs.20 crore and Rs.450 crore on February 26, 2019 and March 19, 2019, respectively.
“With this, the government now holds 100% stake in both the financial institutions,” the RBI said. Last year, the government took the decision to divest the central bank of its holding in these two regulatory institutions.
NHB is a regulatory institution that promotes and regulates the flow of credit to housing, while Nabard carries out the same role for agriculture.
In a statement issued here on Wednesday, the RBI said that it has sold its entire stake in Nabard and NHB amounting to Rs.20 crore and Rs.450 crore on February 26, 2019 and March 19, 2019, respectively.
“With this, the government now holds 100% stake in both the financial institutions,” the RBI said. Last year, the government took the decision to divest the central bank of its holding in these two regulatory institutions.
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