Export-Import Bank Of India EXIM
The Export-Import Bank of India, commonly known as the EXIM bank, was set up on January 1, 1982 to take over the operations of the international finance wing of the DBI and to provide financial assistance to exporters and importers to promote India’s foreign trade. It also provides refinance facilities to the commercial banks and financial institutions against their export-import financing activities.
The important functions of the EXIM Bank are as
1.Financing of exports and import of goods and services both of India and of outside India.
2.Providing finance for joint ventures in foreign countries.
3.Undertaking merchant banking functions of
companies engaged in foreign trade.
4.Providing technical and administrative assistance to the parties engaged in export and import business.
5.Offering buyers’ credit and lines of credit to the foreign governments and banks.
6.Providing advance information and business advisory services to Indian exporters in respect of multilaterally funded projects overseas.
During the year 1994-95, the EXIM Bank introduced the Clusters of Excellence programme for upgradation quality standards and obtaining ISO 9000 certification in various parts of the country. The Bank also entered into framework co-operation agreement with European Bank for Reconstruction and Development (EBRD) for acquiring advance information on EBRD funded projects in order to enter into co-financing proposals with EBRD in Eastern Europe and CIS.
With a view to promote exports, EXIM Bank has introduced three schemes.
1.Production Equipment Finance Programme.
2. Export Marketing Finance.
3. Export Vendor Development Finance.
During 1994-95, total assistance sanctioned and disbursed by the Bank amounted to Rs. 2903 crore and Rs. 1556 crore respectively. In terms of region-wise assistance, West Asia formed the major portion (49.2%) of EXIM Bank’s sanctions during 1994-95. This was followed by South East Asia/Far East and Pacific (38.3%), Sub-Saharan Africa (5.9%) and South Asia (3.6%).
Expansion/diversification programmes claimed the maximum share (54.3%) of EXIM Bank’s sanctions in 1994-95, followed by new projects (33.2%) and modernisation/acquisition of equipment (12.5%).