Question

Consider the following statements:
1. The National Housing Bank , the apex institution of housing finance in India, was set up as a wholly owned subsidiary of the RBI.
2. The Small Industries Development Bank of India was established as a wholly-owned subsidiary of the Industrial Development Bank of India.
Which of the statement given above is/are correct?

• A. Only 1
• B. Only 2
• C. Both 1 and 2
• D. Neither 1 nor 2

Answer 1

The correct option is C Both 1 and 2

• National Housing Bank was set up as a wholly owned subsidiary of RBI in 1988 under the National Housing Bank Act 1987. It is the apex institution in India for housing.
  
• The Small Industries Development Bank of India was established in 1990 as a wholly owned subsidiary of the Industrial Development Bank of India with the aim to aid in the growth and development of micro, small and medium-scale enterprises (MSME). Currently, the ownership is held by 34 Government of India owned/controlled institutions.