RBI sells entire stake in NHB, Nabard to government for Rs 1,470 cr

The central bank sold stake in NHB on March 19, while it sold the stake in Nabard on February 26, the bank said in a statement

The Reserve Bank has exited the National Housing Bank (NHB) and the National Bank for Agriculture & Rural Development (Nabard), by selling its entire stakes to government for Rs 1,450 crore and Rs 20 crore, respectively, making them fully government-owned.

The central bank has sold its stake in NHB on March 19, while it sold the stake in Nabard on February 26, the bank said in a statement Wednesday.

"With this divestment, the government now holds 100 percent stake in both these financial institutions," RBI said in a statement.

The move is part of ending the cross-holding in regulatory institutions and follows the