Discussion
When did the government acquire RBI's shareholding (72.5%) in NABARD?
Answer: B
Correct answer: June, 2008
The Government of India acquired the Reserve Bank's entire 72.5 per cent holding in NABARD in June 2008, leaving the RBI with a nominal stake.
The reasoning was the same that had moved IDBI out of RBI ownership in 1976. The RBI regulates the banking system that NABARD refinances, and holding a controlling stake in a supervised institution sits awkwardly with that role. The Narasimham Committee had recommended such divestments as a matter of principle, and the transfers of the RBI's holdings in SBI, NHB and NABARD followed in turn.
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