Q. 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 Reserve Bank of India.
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 statements given above is/are correct?
Answer: Both 1 and 2
Notes: Both statements are correct. The National Housing Bank (NHB) was set up in 1988 as a wholly-owned subsidiary of the Reserve Bank of India for housing finance regulation and development. The Small Industries Development Bank of India (SIDBI) was founded in 1990 as a wholly-owned subsidiary of Industrial Development Bank of India, aimed at MSME growth.