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RBI transfers stake in NABARD to Union Government
15 October 2010: The Reserve Bank of India (RBI) has divested 71.5 per cent stake in the National Bank for Agriculture and Rural Development (NABARD) to the Union Government. The transfer was effected on 13 October 2010 and amounts to Rs1,430 crore. The government now holds 99 per cent in NABARD, while the RBI holds 1 per cent, it said. The cabinet had in May 2008 approved of RBI's plan to transfer the shareholding to the federal government.
Source: DNA