(a) whether the Government have announced to increase the share money of National
Agriculture and Rural Development Bank to Rs. 500 crore;
(b) if so, whether the said amount has been released; and
(c) if not, the reasons therefor ?
(a) whether the Government have announced to increase the share money of National
Agriculture and Rural Development Bank to Rs. 500 crore;
(b) if so, whether the said amount has been released; and
(c) if not, the reasons therefor ?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATH):
(a) to (c) Yes, Sir. National Bank for Agriculture and Rural Development (NABARD)`s
capital had been enhanced from Rs. 100 crore in 1982-83 to Rs. 500 crore in 1995-96 in
stages. The capital of NABARD has further been enhanced to Rs. 2000 crore by 1998-99
through contribution of Rs. 100 crore and Rs. 400 crore by Government of India and Reserve
Bank of India (RBI) respectively during each of the year 1996-97, 1997-98 and 1998-99.
Pending amendments to NABARD Act the additional capital contribution made during the
years 1996-97 to 1998-99 aggregating Rs.1500 has been kept under the head `Advance
towards Capital`.