Cabinet nod for Rs 1,450 cr to purchase RBI stake in National Housing Bank

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New Delhi, Feb 28 (IANS) The Union Cabinet on Thursday approved an expenditure of Rs 1,450 crore for purchase of the Reserve Bank of India-held shares in the National Housing Bank (NHB), Finance Minister Arun Jaitley announced following a Cabinet meeting here.

The RBI currently holds 100 per cent stake in the NHB.

The National Housing Bank Act, 1987, had been amended by the Finance Bill 2018 in order to transfer the RBI’s stake in the NHB to the government.

–IANS

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