Export Import (EXIM) Bank of India


Export Import Bank of India is also known as EXIM bank of India. It was established on January 1, 1982 under the Export-Import Bank of India Act 1981 to take over the operations of international financing wing of IDBI and to provide financing, facilitating and promoting foreign trade of India. Yaduvendra Mathur is the Chairman and Managing Director of Export Import Bank of India. Establishment of EXIM bank of India is not only to enhance the exports from India, but also to integrate the country’s cross-border foreign trade and investment. EXIM bank of India has been the prime mover in encouraging project exports from India. EXIM bank extends lines of credit to foreign governments, financial institutions and their agencies, enabling them to finance imports of goods and services on deferred credit terms. EXIM bank provides financial assistance in the term of loans in Indian rupees/foreign currencies for setting up new production facility, such facilities helps in export oriented Small and Medium enterprises for creation of export capabilities and enhancement of international competitiveness. EXIM bank has launched the rural initiatives program with the objective for linking Indian rural industry to the global market.

Objectives

  • The main objective of EXIM bank of India is to provide financial assistance to importers and exporters.
  • And also providing functioning as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services to promote the country’s international trade.
  • These services include export credit, finance of export oriented units and agricultural, overseas finance investment etc.
  • Other services include research analysis, Export advisory services, Team Deposit scheme, and Market advisory services.
  • With due regard to public interest, to act on business principles.

Functions of EXIM Bank

  • To provide direct financial assistance to exporters of plant, machinery and their related services in the form of medium-term credit.
  • It also provides rediscount of export bills for a period that should not exceed 90 days against short-term export bills discounted by commercial banks.
  • Financing and developing export oriented industries.
  • Compiling and collecting the market and credit information about foreign trade.

If you want any information related to export inspection agency, regarding to offices in various cities such as ( Delhi, Kochi, Kolkata, Chennai, Mumbai) and their regions such as (Andhra pradesh, Gujarat, Goa, Punjab, Tripura etc.) visit the link: Country Offices

Organization

Exim bank is managed by a board of directors, which has representatives from the Government, Reserve bank of India and the business community. This bank is categorized into three major groups which are as follows:

Project Finance/Trade Finance:

This group handles the complete information about export credit services such as supplier credit, buyer’s credit, finance of exports of projects and consultancy services and pre-shipment credit etc.

Export Services Group:

This group offers a wide range of variety for advisory and value-added information services.

Global Networks

EXIM bank has national as well as global network of institutional and professional linkages. It has five overseas offices in foreign countries such as Singapore, Johannesburg, Washington have strategic institutional linkages for the bank with Export credit agencies, multilateral agencies such as world bank, Asian development bank, Trade and industry associations in India.

EXIM bank has also seven offices in India to help the bank respond to regional developmental activities in the export sector. These offices identify special needs to the export business through close interaction with existing and prospective clients and suggest innovative instruments appropriate to the regional potential.