A wholly-owned subsidiary of the Government of India, Exim Bank stands for Export-Import Bank of India and is a leading financial institution of the country. It is engaged in the integration of foreign trade and investment with the nation's economic growth. Recently, the government has decided to allocate capital worth 1500 crore rupees to the bank to encourage new initiatives.
Exim Bank - Overview
This bank can be considered a rare financial institution because its need and concept were debated for over 20 years before it was finally established. The bank serves as a key player in promoting cross-border investment and trade in this rapidly evolving financial paradigm.
The main objective of the entity is to provide monetary assistance to importers and exporters and coordinate the work of organisations involved in financing the import/export of goods and services to boost the nation's international trade.
The Exim Bank was founded in 1982 by the Indian government and is headquartered in Mumbai, Maharashtra. The first chairman and managing director of the bank were R.C. Shah.
The present managing director is Harsha Bangari who took charge of the position in 2021. It has offices located throughout the country as well as in multiple countries including UK and Dubai.
Exim Bank Products and Services
Here are the primary products and services of the bank:
Exim Bank Products
Corporate banking offers various programs to enhance the competitive abilities of Indian businesses in the field of export
Buyers credit provides a credit facility program encouraging Indian exporters to discover new markets across the globe and offers credit to overseas buyers to facilitate export for SMEs
Overseas investment finance gives loans to Indian companies for investments in their overseas subsidiaries or joint ventures
Project exports promote Indian project exports and help companies secure contracts from other countries
Lines of credit offers an extended line of credit to Indian exporters to help them enter new markets and expand their business to new geographical areas
Exim Bank Services
Research and analysis performs research in the areas of international trade, economics, investment, and country profiles to help businesses assess risks and exploit opportunities
Marketing advisory assists exporters in finding overseas partners, identifying projects/acquisition opportunities abroad
Export advisory offers advisory, support, and information to enable exporters to grab export opportunities, analyse risks and improve competitiveness
Exim Bank is an important entity in the country working actively in the areas of exports and imports. It plays a vital role in helping business owners set up projects in other countries and trade overseas.
FAQs on Exim Bank
Q.1. Where is the Exim Bank situated?
The Exim Bank's headquarter is located in Mumbai, Maharashtra and its offices are spread across the country.
Q.2. What is the primary role of the Exim Bank?
The key purpose of Exim Bank is to provide financial assistance to the country's importers and exporters to bring in foreign exchange.
Q.3. When was the Exim Bank established?
The Export-Import Bank [Exim Bank] was established in September 1981.
Q.4. Who is the present MD of the Exim Bank?
Harsha Bangari is the present Managing Director of the Exim Bank.