Explanation: The NABARD (Amendment) Bill, 2017 passed in 2018: Amendment in Act enabled Union Government to increase the authorized capital of NABARD from Rs. 5,000 crore to Rs. 30,000 crore. NABARD is a statutory body established in 1982 under Parliamentary act-National Bank for Agriculture and Rural Development Act, 1981. It supervises Cooperative Banks and Regional Rural Banks (RRBs) and helping them develop sound banking practices and integrate them to the CBS (Core Banking Solution) platform.
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