Home Nation World Business Politics Odd & Weird Region Entertainment Education
Pardaphash Logo
Hindi


Union Cabinet approves Rs 20,000 Cr capital to NABARD




Published by:
Published on: Thu, 07 Feb 2013 at 10:19 IST
Union Cabinet approves Rs 20,000 Cr capital to NABARD
New Delhi: The Union cabinet on Thursday raised the authorized capital of the National Bank for Agriculture and Rural Development (NABARD) to Rs.20,000 crore from Rs.5,000 crore and enlarged its operations.

At a meeting here, the cabinet approved amendments to the NABARD Act 1981 to expand the apex rural and farm development financial institution's capital base and ability to introduce new credit products, forge new linkages and develop new clients.

It also approved merging the posts of the chairman and managing director and transfer the balance one percent shares to the government from Reserve Bank of India (RBI), which will provide for increased public accountability.

Once the amendments are carried out, NABARD would be able to issue new credit products, lend to new institutions, mainly societies covered under multi-state cooperative societies act and other central laws, producer organizations or such class of financial institutions which are approved by the central government.

The amendments would allow a combination of credit, creation of short-term operations fund and swapping of debt of farmers.

This is likely to benefit a larger segment of the financially excluded farmers in the country, said an official release.

NABARD was set up in 1982 to facilitate agriculture credit and rural development.
Previous
PM, Prez pay last tributes to Bharat Ratna APJ Abdul Kalam
PM, Prez pay last tributes to Bharat Ratna APJ Abdul Kalam
Mission: Impossible Rogue Nation Snaps | See rare gallery
Mission: Impossible Rogue Nation Snaps | See rare gallery
See Selena Gomez seductive photos collection days ahead of her 23rd birthday
See Selena Gomez seductive photos collection days ahead of her 23rd birthday
Shahrukh Khan starrer Raees first look
Shahrukh Khan starrer Raees first look
Kim Kardashian sports gold bra; poses in NUDE bodysuit
Kim Kardashian sports gold bra; poses in NUDE bodysuit
Ranveer Singh's heart stirring gesture, see what!
Ranveer Singh's heart stirring gesture, see what!
In Pics | Mithun Chakraborty, Punit Pathak, Gaiti Siddiqui & Mudassar and Jay Bhanushali at the launch of Dance India Dance (DID) Season 5
In Pics | Mithun Chakraborty, Punit Pathak, Gaiti Siddiqui & Mudassar and Jay Bhanushali at the launch of Dance India Dance (DID) Season 5
Marathi film Welcome Zindagi's Premiere at Metro Big Cinemas in Mumbai
Marathi film Welcome Zindagi's Premiere at Metro Big Cinemas in Mumbai
Miley Cyrus bares all for Paper Magazine
Miley Cyrus bares all for Paper Magazine
Bruce Jenner finally debuts as Caitlyn on Vanity Fair
Bruce Jenner finally debuts as Caitlyn on Vanity Fair
Feel the heat with Sofia Hayat's bikini pics for Victoria's Secret
Feel the heat with Sofia Hayat's bikini pics for Victoria's Secret
AbRam poses very much like father Shah Rukh Khan
AbRam poses very much like father Shah Rukh Khan
PardaPhash's 4th Anniversary Graced by Principal Secretary, Information, Navneet Sehgal
PardaPhash's 4th Anniversary Graced by Principal Secretary, Information, Navneet Sehgal
IPL 2015 CSK vs MI Final: Mumbai Indians winning moments
IPL 2015 CSK vs MI Final: Mumbai Indians winning moments
Deepika Padukone’s Piku success bash, a starry affair
Deepika Padukone’s Piku success bash, a starry affair
Next
BREAKING NEWS
Two out of four Indians abducted by ISIS in Libya rescued
 
Opinion Polls
Will MIM, Asaduddin Owaisi’s entry in UP affect Samajwadi Party’s Muslim vote bank?
Yes
No
Can't Say


Pardaphash name, logo and all associated elements ® and © 2011 Mahakaal News Management Pvt. Ltd.
All rights reserved. Pardaphash and the Pardaphash logo are registered marks of Mahakaal News management Pvt. Ltd.
Pardaphash is hosted with Enzoo could compute engine.
Valid XHTML 1.0 Transitional
This page is generated in : 0.01 Seconds




EXCLUSIVE: Incredible achievements of 'The People’s President' Dr APJ Abdul Kalam