Thursday, November 30, 2017

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Export Import Bank (EXIM Bank)

EXPORT IMPORT BANK (EXIM BANK)

Origin of Export Import Bank (EXIM Bank)

EXIM bank was set up in January 1982 as a wholly owned by the central government.

Capital of Export Import Bank (EXIM Bank)

EXIM bank was established with the paid up capital of Rs. 50 crores. It is empowered from RBI and also from central government to further capital raise by issue of bonds and grants from government.

finance
[Post Image Courtesy of Sira Anamwong at FreeDigitalPhotos.net]

Objectives Of Export Import Bank (EXIM Bank)

EXIM bank was established mainly for the purpose of promoting export and trading in India. The objectives are as follows:

• To promote the export and import activities

• To meet the financial requirements of the exporters

• To provides guarantee and make foreign exchange facilities to exporters.

Functions Of Export Import Bank (EXIM Bank)

EXIM banks performs the following important functions:

1. Grants direct loans in India and outside for import and export.

2. Refinances loans and suppliers of credit.

3. Rediscounts usance export bills export bills for banks.

4. Provides overseas investment finance.

5. Bulk import finance.

6. Foreign currency preshipment credit.

7. Product equipment finance programme.

8. Business advisory and technical assistance (BATA).

Management Of Export Import Bank (EXIM Bank)

EXIM bank is one of the wholly owned by central government, hence, the entire management is controlled by the central government.

Working Result Of Export Import Bank (EXIM Bank)

EXIM banks business is exclusively devoted to India’s export and import activities. The aggregate loans and outstanding reached Rs. 16.16 billion during the first decade of the its operation. During the year 1990–91, it was sanctioned Rs. 1984 crore and it has increased to Rs. 12011 crore in 2002–03. The share of EXIM bank in industrial finance is 2.11% in the year 2002–03.

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