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EXIM Bank full form is Export Import Bank of India. It is a wholly owned financial institution of the Government of India that focuses on financing, facilitating and promoting India’s international trade. It was established under the Export-Import Bank of India Act, 1981, and is regulated by the Reserve Bank of India.
In this blog post, we shall discuss the EXIM Bank in detail. Once you go through this blog post, you will be able to understand when this Bank was established, its board of directors, and the EXIM Bank’s roles and functions.
EXIM Bank full form is Export Import Bank of India. It is the Indian Government’s premier financial institution established on 1 January 1982 under the Export-Import Bank of India Act, 1981. The main function of this bank is to finance, facilitate and promote India's international trade. The bank supports industries and small and medium enterprises (SMEs) by offering a medley of financial products and services like support for the import and export of technology, product development, export production, export marketing and both pre-shipment and post-shipment finance as well as foreign investment.
Export-Import Bank of India also provides Lines of Credit (LoCs), which are concessional loans extended by the bank to foreign financial institutions, regional development banks, sovereign governments and other overseas entities. These credits help buyers situated in other countries to purchase infrastructure projects, equipment, goods and services from India on deferred payment terms.
In international trade, deferred payment terms means financial arrangements that let buyers purchase goods/services on an instant basis but pay for them at a later agreed-upon date, usually in multiple installments.
The EXIM Bank’s Board of Directors consists of the following individuals:-
Mr. Sudhakar Dalela:- He is the Secretary (ER), Ministry of External Affairs.
Mr. Suchindra Misra:- He is the Special Secretary, Department of Commerce, Ministry of Commerce & Industry.
Ms. Himani Pande:- She is the Additional Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
Ms. Aparna Bhatia:- She is the Adviser, Department of Economic Affairs, Ministry of Finance.
Dr. Abhijit Phukon:- He is the Economic Adviser, Department of Financial Services, Ministry of Finance.
Mr. Arnab Kumar Chowdhury:- He is the Executive Director of the RBI.
Mr. Rakesh Sharma:- He is the Managing Director & CEO, IDBI Bank Limited
Mr. Sristiraj Ambastha:- He is the Chairman-cum-Managing Director, ECGC Limited.
Mr. Challa Sreenivasulu Setty:- He serves as the Chairman of SBI.
Mr. Ashwani Kumar:- He serves as the Managing Director & CEO, UCO Bank.
Mr. Rajneesh Karnatak:- He is currently the Managing Director & CEO, Bank of India.
Ms. Harsha Bangari:- She is the Managing Director of the Export Import Bank India.
Mr. Tarun Sharma:- He is the Deputy Managing Director of the Export-Import Bank of India.
Ms. Deepali Agrawal:- She currently serves as the Deputy Managing Director of the Export Import Bank India.
The roles and functions of Export-Import Bank of India can be understood with the help of the following points. Once you go through all the points, you’ll be able to understand why the Export-Import Bank of India is so important. :-
Support in Int’l Market Entry:- The Bank helps the Indian companies in entering and expanding into new international markets. It does so by providing the Indian companies advisory services and also structured finance programmes like buyer's credit, lines of credit and overseas investment finance.
Assistance in Project Export:- EXIM promotes as well as finances project exports when it comes to infrastructure and turnkey projects and allows the Indian firms to execute large scale projects abroad.
Overseas Investment Assistance:- It provides Overseas Investment Finance, which refers to financing support for Indian companies so they can set up Joint Ventures (JVs) or Wholly Owned Subsidiaries abroad and establish a global footprint.
Exports to Developing Countries:- EXIM, through the Lines of Credit, facilitates exports to developing countries. At the same time, the Bank strengthens bilateral trade relations and opens new markets for Indian exporters.
Support through Ubharte Sitaare Programme (USP):- It is a joint initiative of the Export-Import Bank India and SIDBI. Under this programme, a medley of financial and technical assistance, including equity and debt support, is provided to help Indian companies modernize, augment and expand beyond the domestic market.
EXIM Bank stands for Export Import Bank of India. Established in 1982 under the Export-Import Bank of India Act, 1981, it is a specialized financial institution in India. It plays quite a significant role in India’s international trade. This Bank supports the export-import sector by facilitating credit and financing for businesses entering/expanding into international markets.
Want to start an Export or Import Business? If so, don’t forget to obtain the mandatory Import-Export Code (IEC) registration. If you need assistance in obtaining it in a smooth and efficient manner, you can get in touch with our experienced IEC experts at Registrationwala.
Q1. What is EXIM Bank full form?
A. The full form of EXIM Bank is Export Import Bank of India.
Q2. Which authority regulates the EXIM Bank?
A. The Reserve Bank of India (RBI) is the concerned authority for regulating/supervising the EXIM Bank.
Q3. When was India EXIM Bank established?
A. It was established on January 1, 1982, under the Export-Import Bank of India Act, 1981.
Q4. Is EXIM Bank a private financial institution?
A. No, it is not a private financial institution. It is a wholly owned Government of India financial institution.
Q5. Where is the head office of India EXIM Bank?
A. The head office of this Bank is located in Mumbai, Maharashtra, at the following address: Floor 21, Centre One Building, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, India.
Q6. Who is the owner of EXIM Bank of India?
A. The Export-Import Bank of India is wholly owned by the Government of India.
Q7. What is the primary function of the Export Import Bank of India?
A. This Bank’s primary function is to finance, facilitate and promote India's international trade.
Q8. What are Lines of Credit?
A. In the context of international development, the Lines of Credit are concessional loans/soft loans provided at below-market interest rates, longer repayment periods and grace periods to support developing countries.
Q9. What is Buyer’s Credit?
A. In the context of EXIM, it refers to a financing arrangement under which individual overseas buyers (importers) are provided credit so they can ultimately import capital goods, projects and services from India on deferred payment terms. The reason why EXIM offers buyer’s credit is to encourage foreign buyers to source from India and facilitate/promote Indian exports.
Disclaimer :- This blog post is purely meant for educational purposes. While we have made every effort to provide our readers with accurate as well as complete information in this post, we cannot guarantee its full accuracy or completeness. Therefore, we suggest the readers verify with the official sources before making any decisions. Information in this content should not be interpreted as professional, academic, business, financial or legal advice at all.
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