The Union Cabinet on Tuesday approved increasing the Authorised Share Capital of the National Minorities Development and Finance Corporation (NMDFC) from Rs1,500 crore to Rs3,000 crore. NMDFC is a Central Sector Public Enterprise under the Ministry of Minority Affairs. Approval was also given to revise the shareholding pattern from 65:26:9 to 73:26:1 among the Centre, States/Union Territories and Individuals/ Institutions respectively and allowing restructuring of the NMFDC's business model. The decision will enlarge the quantum of funds available for economic activities, better coverage and enhanced outreach.