The Reserve Bank of Indiahas divested its entire stake in the NABARD and NHB.
The Reserve Bank of India (RBI) has divested its entire stake in the National Bank for agriculture and Rural Development (NABARD) and National Housing Bank (NHB).
RBI in a press release issued on 24th of April said, it sold the entire stake worth Rs 20 crore in NABARD and Rs 1,450 crore in NHB in the last quarter of 2018-19.
The bank also said, the government is now cent percent holder of both these institutions.
What factors led to the decision?
The RBI’s decision on divesting its entire stake in NHB and NABARD came based on the recommendation of second Narasimham Committee.