RBI Divests Its Entire Stake in NHB & NABARD | Daily Current Affairs with Skholar

RBI Divests Its Entire Stake in NHB & NABARD

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Prelims: Economy

  1. RBI had 100% stake in NHB, now it has divested its entire stake to the central government.

  2. RBI had 72.5 % stake in NABARD, it divested in two phases one in 2010 and another in this year.

  3. Now central govt has a 100% stake in NABARD.

  4. Both the divestment was based on the recommendation of Narshimham Committee II.

National Housing Board (NHB)

  1. National Housing Board (NHB) is the regulator for housing finance and companies in India.

  2. It also measures the prices of houses in 26 cities.

  3. It also includes the prices of land, building materials and house rentals. It is called as Housing Price Index or NHB RESIDEX.

National Bank for Agriculture and Rural Development (NABARD)

  1. It is an apex rural financial institution in India.

  2. NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC).

  3. It aims to promote sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity.

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