Question
Recently Parliament passes bill to raise Nabard’s
capital to Rs _____.Solution
Set up with an initial capital of Rs. 100 crore, its' paid up capital stood at Rs. 14,080 crore as on 31 March 2020. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India. The new bill increase authorised capital of National Bank for Agriculture and Rural Development (Nabard) by six times to Rs30,000 crore and enable exit of Reserve Bank of India (RBI) was passed by Parliament after the government assured that there is no plan to have private holding in it.
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