RBI divests entire share in NABARD, NHB
New Delhi, April 24 -- The Reserve Bank of India (RBI) on Wednesday said that it has divested its entire stake in the National Bank For Agriculture and Rural Development and the National Housing Bank amounting to Rs 20 crore and Rs 1,450 crore respectively
Divestment of the RBI's shareholding in NABARD was done in two phases, the central bank said in a statement. After its completion, the government will hold 100 per cent stake in both the financial institutions.
"The bank held 72.5 per cent of equity in NABARD amounting to Rs 1,450 crore out of which 71.5 per cent amounting to Rs 1,430 crore was divested in October 2010 based on the Government of India notification on September 16, 2010. The residual shareholding was divested on Februa...
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