Economy : Banking System

Q 27 / 30

Consider the following statements:

  1. The National Housing Bank (NHB), 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 (SIDBI) was established as a wholly owned subsidiary of the Industrial Development Bank of India (IDBI).

Which of the statements given above is/are correct?