<h1>Union Cabinet Approves NABARD Act Amendments: Capital Increase, Broader Scope, Leadership Streamlining, Enhanced Farmer Support.</h1> The Union Cabinet approved amendments to the NABARD Act, 1981, raising NABARD's authorized capital from Rs. 5,000 crore to Rs. 20,000 crore to enhance its market resource mobilization. The definition of cooperative societies is expanded to include multistate cooperatives. Ownership changes will transfer remaining share capital from the Reserve Bank to the Central Government, increasing public accountability. NABARD's operational scope will broaden to include more institutions and provide new credit products. The roles of Chairman and Managing Director will be merged to streamline leadership. These changes aim to benefit financially excluded farmers and improve NABARD's efficiency.