New Delhi, August 03: After acquiring the RBI’s stake in State Bank of India, the government plans to pick up the central bank’s stake in apex agriculture bank Nabard and housing finance regulator National Housing Bank (NHB).
There would be cash outgo of Rs 1,900 crore for the acquisition of RBI’s stake in both these institutions and the government has sought Parliament’s approval for the purchase.
“For making provision for transfer of RBI shareholding in Nabard (Rs 1,450 crore) and NHB (Rs 450 crore) to the government of India at the holding cost of Rs 1,900 crore.
This will entail cash outgo,” the first supplementary demands for grants tabled in Parliament said today.
At present, the RBI holds a stake of about 72.5 per cent in the National Bank of Agriculture and Rural Development (Nabard) and the remaining lies with the government.
–Agencies