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.
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz