Govt to buy 99% stake in Nabard

Aug 09, 2010 |

Correspondent

The Centre is likely to up its stake in Nabard to up to 99 per cent by acquiring the RBI’s stake for Rs 1,450 crore in the current year, a top Nabard official said. The Reserve Bank holds 72.5 per cent in the Nabard while the remaining is with the government. “The government might have a 99 per cent shareholding in Nabard. The RBI will still hold one per cent in the bank,” the bank’s MD, Mr K G Karmakar, said on the sidelines of an event in Mumbai. However, the Government is awaiting approval from Parliament on the same, Mr Karmakar said, adding that the change in stake-holding would not in any way impact the bank’s regular business and functioning.

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