EXIM Bank

EXIM Bank

About EXIM Bank:

⏩Export-Import Bank of India was established under the Export-Import Bank of India Act 1981.

⏩EXIM bank is a specialized financial institution, wholly owned by Government of India, set up in 1982, for financing, facilitating and promoting foreign trade of India.

⏩EXIM Bank extends Lines of Credit (LOCs) to  overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import developmental and infrastructure projects, equipments, goods and services from India, on deferred credit terms.

⏩EXIM Bank has laid strong emphasis on enhancing project exports, the funding options for which have been enhanced with introduction of the Buyer's Credit-National Export Insurance account (BC-NEIA) program.

⏩The Bank facilitates two-way technology transfer by financing import of technology into India, and investment abroad by Indian companies for setting up ventures, subsidiaries or undertaking overseas acquisitions.

Functions:

1. It provides direct financial assistance to exporters of plant, machinery and related service in the form of medium-term credit.
2. Underwriting the issue of shares, stocks, bonds, debentures of any company engaged in exports
3. It provides re discount of export bills for a period not exceeding 90 days against short-term usance export bills discounted by commercial banks.
4. The bank gives overseas buyers credit to foreign importers for import of Indian capital goods related services.
5. Developing and financing export oriented industries.