Government introduced the National Bank for Agriculture and Rural Development (NABARD) Amendment Bill 2017 in the Lok Sabha today. The bill was moved by Finance Minister Arun Jaitley. It has provisions to enable Central Government to increase the authorized capital of NABARD from 5,000 crore rupees to 30,000 crores and to increase it beyond 30,000 crores in consultation with RBI. <br/><br/>The proposed increase in the authorized capital would enable NABARD to respond to the commitments it has undertaken, particularly in respect of the Long Term Irrigation Fund and on-lending to cooperative banks. <br/><br/>Further, it will enable NABARD to augment its business and enhance its activities which would facilitate promotion of integrated rural development and securing prosperity of rural areas including generation of more employment.