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A bill to enable exit of RBI from Nabard and increase authorised capital of the development institution six times to Rs 30,000 crore was passed by the Lok Sabha today. 

The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017 also seeks to amend certain clauses in the light of reference of the Micro, Small and Medium Enterprises (MSMEs) Development Act, 2006 in the proposed legislation.

Minister of State for Finance Santosh Kumar Gangwar said that the law is one of the "major step" towards doubling farmers' income by 2022. 

This is a small bill but irrespective of that, 28 members put their views on this legislation, which reflects the interest of members on agriculture related issues, he said. 

He said that as this is a short bill, suggestions made by members would be considered when the detail bill will come.