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Govt raises Nabard's authorised capital by six-times to Rs 30k cr

As part of the drive to double income of farmers by 2022, the government has raised the authorised capital of Nabard by six times to Rs 30,000 crore to help it increase its lending to the rural economy. "... the Central Government hereby increases the capital of the National Bank for Agriculture and Rural Development from five thousand crores of rupees to thirty thousand crore rupees," said a April 10 notification of the finance ministry. A bill in this regard was approved by Parliament earlier this year.

News Source:- https://timesofindia.indiatimes.com/business/india-business/govt-raises-nabards-authorised-capital-by-six-times-to-rs-30k-cr/articleshow/63768987.cms