EXPORT IMPORT BANK OF INDIA (EXIM BANK) - AN OVERVIEWS
Essential for All Upcoming Bank Exams
- Export Import Bank of India (EXIM Bank) was set up by an Export Import Bank of India Act of Parliament in September, 1981.
- It is owned by Government of India.
- It was established on 1st January, 1982.
- It is the premier export finance institution in India.
- It is headquartered in Mumbai, India.
- If you want to import products from abroad for exporting goods abroad, the EXIM Bank can provide you with the necessary support and assistance.
- To pay special outlook to the export of capital goods.
- To extend the customer's credit and credit line.
- To ensure solutions to collaborative problems faced by exporters in India and integrated and cooperative methods.
- Joint initiative and technical services and international and merchant banking exercise.
- Export projection.
- EXIM Bank has 16 Board of Directors
- Chairman and Managing Director
- 5 Directors: Government of India
- 1 Director nominated by Reserve Bank of India (RBI)
- 1 Director nominated by Export Credit Guarantee Corporation of India (ECGC)
- 1 Director nominated by Industrial Development Bank of India (IDBI)
- 3 Directors: Scheduled Banks
- 4 Directors: Profession/ Expert.
- EXIM Bank has 9 (Nine) Domestic Offices and 6(Six) Overseas Offices.
Lines of Credit (LOC):
- LOCs also elaborate at the order of Government of India.
- LOCs/BCs are particularly relevant for Indian SME exporters because the risks of payment are borne by EXIM Bank.
- Exim Bank extends Export Lines Credit (LOC) to foreign financial institutions, regional development banks and foreign governments and their organizations and buyers' credit (BC) to foreign corporate.
- Indian exporters operate as market transactions and provide a secure mode of unsecured financing option to Indian exporters.
- There are 117 operator lines across more than 94 countries and more than 3.85 billion US dollars.
Export Marketing Finance:
- SME has expanded export marketing finance to implement strategic export marketplace plans, which are intended to enter the market of developed countries and the term of the loan for upgrades.
- On successful basis in the program implemented by Exim Bank in India, the Bank has shared his experience with other developing countries including the World Bank fund.
- Exim Bank’s assistance resulted in generation of significant exports to developed country markets
- Administered an Export Marketing Fund from World Bank.
- Many of these companies have become big companies with high export adaptation.
- It leases money for import of capital equipment.
- Under cross-border leasing, this advisory may be in a foreign country, but it will be the claimant in India.
- It also helps for import leasing, both of which will be donors and tenants in India, but lease imported equipment can be from USA or UK.
- By providing lease in exchange for foreign exchange, the Exim Bank helps Indian priority for obtaining capital equipment on lease.
- Provide technical, administrative and management support for management, management and extension for the development of the export sector.
- Planning, promotion and development and import development.
- Market and investment surveys and technical-economic research that are involved in the export of products and services export.