RBI Divests Its Entire Stake in NHB & NABARD | Daily Current Affairs with Skholar
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Prelims: Economy
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RBI had 100% stake in NHB, now it has divested its entire stake to the central government.
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RBI had 72.5 % stake in NABARD, it divested in two phases one in 2010 and another in this year.
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Now central govt has a 100% stake in NABARD.
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Both the divestment was based on the recommendation of Narshimham Committee II.
National Housing Board (NHB)
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National Housing Board (NHB) is the regulator for housing finance and companies in India.
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It also measures the prices of houses in 26 cities.
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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)
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It is an apex rural financial institution in India.
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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).
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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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