GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When did the government acquire RBI’s shareholding (72.5 %) in NABARD?
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March, 2009
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May, 2008
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June, 2008
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August, 2008
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Explanation:
Detailed explanation-1: -It was the Narasimhan Committee that recommended the transfer of RBI’s stake in State Bank of India, Nabard and NHB to the government to differentiate the central bank’s role as the owner of banks and the sector regulator.
Detailed explanation-2: -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: -RBI had sold its stake and now the Government of India (GOI) has 99 percent in it. It was established to provide credit for the promotion of the agriculture, SSI and Cottage and village industry. It is an apex bank for agriculture.
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