NABARD amendment bill gets clearance from Rajya Sabha

New Delhi, Jan 3 (KNN) The bill was to increase authorized capital of National Bank for Agriculture and Rural Development (NABARD) to Rs. 30,000 crore got the parliamentary nod recently.

At present, the capital value of Nabard stands at Rs. 5,000 crores. Clearing the queries regarding private holding NABARD, Shiv Pratap Shukla, Minister of State for Finance said, “There is no proposal for private holding in NABARD”. RBI will still be the regulator, he informed.

Also the government has proposed certain clauses regarding provisions of micro, small and medium enterprises in the new bill.

Earlier the NABARD amendment bill was tabled in the Lok Sabha in August.

With regard to the MSMEs, the bill replaces the terms ‘small scale industry’ and ‘industry in tiny and decentralized sector’ with the terms Micro, Small and Medium Enterprises as prescribed under the MSME Development Act of 2006. (With PIB inputs) (KNN/MG)