RBI sold its stake in NABARD to the Government of India, which now holds.....stake.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

RBI sold its stake in NABARD to the Government of India, which now holds____stake.

A	Approx 65%
B	Approx 70%
C	Approx 95%
D	Approx 99%

Explanation:

Detailed explanation-1: -The RBI divested its entire stake in NABARD and NHB amounting to ₹ 20 crore (Rupee twenty crore) and ₹ 1450 crore (Rupees one thousand four hundred and fifty crore) on February 26, 2019 and March 19, 2019 respectively. With this, the Government of India now holds 100% stake in both the financial institutions.

Detailed explanation-2: -Detailed Solution. The National Bank for Agriculture and Rural Development (NABARD) was established in 1982. RBI had sold its stake and now the Government of India has 99% share in it.

Detailed explanation-3: -Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India.

Detailed explanation-4: -Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.

Detailed explanation-5: -There are five fully owned subsidiaries of RBI: DICGC, BRBNMPL, ReBIT, IFTAS and RBIH.

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