RBI sells its stake in Nabard to Govt

“The Reserve Bank of India divested its stake amounting to Rs 1,430 crore in National Bank for Agriculture and Rural Development (Nabard) on October 13, 2010. With this, the Reserve Bank’s holding in Nabard has come down to one per cent of shareholding in Nabard. The Government of India now holds 99 per cent of the stake,” RBI said in a statement here.

The RBIheld 72.5 per cent of equity in Nabard amounting to Rs 1,450 crore. The remaining shareholding worth Rs 550 crore was with the Centre. Government of India. The Union Cabinet in May 2008 had approved RBI’ proposal to transfer its share holding in Nabard to the Government.