NEWS & ADVICE : HOME LOANS
Govt. active again in picking NABARD and NHB stakes
By Joseph Samson
Aug 4, 2010
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Government is again gearing up to pick stakes of RBI in NABARD and NHB. NABARD is the prime agriculture lender while NHB is the prime housing finance firm.

The estimated cost of acquiring the stake of RBI in both entities is about Rs 1,900 crore. Parliamentary approval has already been taken on this move.

"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.

RBI currently has 72.5% stake in NABARD while NHB is a wholly owned subsidiary of the apex bank.

The Government had earlier wanted this acquisition but the plan was laid off following objections from RBI.

In 2007, the government acquired the 59.73 per cent stake held by RBI in the country's largest bank, State Bank of India, for Rs 35,531.33 crore.


 


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