Lok Sabha passes NABARD (Amendment) Bill, 2017
August 4th, 2017
The Lok Sabha has passed the National Bank for Agriculture and Rural Development (Amendment) Bill, 2017 by voice vote. The bill enables exit of the Reserve Bank of India (RBI) from the National Bank for Agriculture and Rural Development (NABARD) and increase authorised capital of the development institution six times to Rs 30000 crore. The Bill also seeks to amend certain clauses in the light of reference pf the Micro, Small and Medium Enterprises (MSMEs) Development Act, 2006 in the proposed legislation.