UPSC CSE Prelims 2004 Q47 — Indian Economy PYQ with Answer

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?