......“The decision was taken that RBI’s equity will get transferred to the government. But the complete transfer could not take place because the laws say that equity shareholding in Nabard will be jointly held by the government and RBI,” a finance ministry official said, requesting anonymity. “The change in the law will ensure that the complete stake is held by the government.” Nabard chairman Prakash Bakshi confirmed the development........
.......Through the Nabard amendment Bill, the government will also combine the posts of chairman and managing director. “Combining the two posts is in line with the industry practice,” said Bakshi. “Most of the banks have one post of chairman and managing director.”
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