The Reserve Bank of India (RBI) has divested its entire stake held in National Housing Bank (NHB), and National Bank for Agriculture and Rural Development (Nabard) to the government, which now holds 100% in these entities.
The transactions were completed in February (Nabard) and March (NHB). RBI had 100% shareholding in NHB, which was divested for INR 1,450 crore. RBI had 72.5% stake in Nabard, out of which 71.5%, worth INR1,430 crore was divested in October 2010 and the residual shareholding was divested in February 2019 for INR 20 crore.
Source: The Hindu
Static/Current Takeaways Important for LIC AAO Exam:
- NHB is the regulator for housing finance companies while NABARD is responsible for regulating and supervising the functions of Co-operative banks and RRBs.