In the context of the Indian Financial System, the 'National Housing Bank' (NHB) was established as a wholly owned subsidiary of which institution? MCQ with Answer and Explanation
In the context of the Indian Financial System, the 'National Housing Bank' (NHB) was established as a wholly owned subsidiary of which institution?
A. Ministry of Finance
B. Reserve Bank of India
C. State Bank of India
D. Securities and Exchange Board of India
Answer: Option B
Solution (By JKSSB Mock Tests)
The National Housing Bank (NHB) was set up in 1988 as a wholly owned subsidiary of the Reserve Bank of India (RBI) to regulate and promote housing finance institutions. (Note: It was later transferred to the central government in 2019, but historically it was an RBI subsidiary).
Explanation:
Statement of Changes in Equity is typically a required component for corporate entities under Ind AS, not for standard sole proprietorships.
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