(a) whether Reserve Bank of India has decided to withdraw its equity from the National Housing Bank;
(b) if so, the reasons therefore?
(c) whether the activities of NHB will adversely suffer following RBI`s decision; and
(d) if so, the action taken by the Government in this regard?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMANICKAM)
(a) & (b) : Yes, Sir. RBI has suggested that based on Narasimham Committee Report, it would be appropriate that RBI should not own the institutions it regulates. This would enable RBI to concentrate more on its Regulatory and Supervisory functions.
(c) No Sir.
(d) Does not arise.