Objective and Function of EXIM Bank: Export-Import Bank of India: This article focuses on the Objective and Function of “Export-Import Bank of India(EXIM Bank)”. You can also learn here the full form of EXIM Bank, History of Export-Import Bank of India(EXIM Bank), and Export-Import Bank of India(EXIM Bank) definition. Here, I will also share the information about the role of Export-Import Bank of India(EXIM Bank), objectives of the Export-Import Bank of India(EXIM Bank) and the Export-Import Bank of India(EXIM Bank) functions. If you want to know List of Total banks in India then you can click on given link to know more because I have already written an article on the List of banks in India. Let’s read the full article to get more information about the Export-Import Bank of India(EXIM Bank). objective and function of Exim Bank
Objective and Function of EXIM Bank: Export-Import Bank of India
History of EXIM Bank: Export-Import Bank of India
Established: 1st January 1982 (Under Act 1981)
Chairman: click here
Objectives of EXIM Bank: Export-Import Bank of India
For providing financial assistance to exporters and importers, and for functioning as the principal financial institution for coordinating the working of institutions engaged in financing the export and import of goods and services with a view to promoting the country’s
international trade. To act on business principles with due regard to public interest.
Key Points of the EXIM Bank(Export-Import Bank of India) are as follows:
1. Financing of export and import of goods and services both of India and of the outside of 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
5. Offering buyers’ credit and lines of credit to the foreign governments and banks.
6. Providing advance information and business advisory services to Indian exports in respect of
multilaterally funded projects overseas.
Functions of EXIM Bank: Export-Import Bank of India
1. Corporate banking group:
Corporate banking group handles various financing programs for exporters, importers and overseas investment by Indian companies. objective and function of Exim Bank
2. Project finance/trade finance :
Project finance group deals with the services related to export credit such as pre-shipment credit, suppliers credit. The projects related to the financing of export transactions of the agricultural sector are also handled by this group. objective and function of Exim Bank
3. Export services group:
Export services group provides services such as value-added information for promoting investments and advisory services.
4. Export marketing group:
Export marketing group provides loans/assistance for exporters (example Indian company) to perform export operations to overseas markets.
5. Support services group:
Support services group render services which include areas of planning, research, corporate finance, loan recovery, etc.
6. Small and medium enterprises:
Various lending/ financial assistant programs are formed to handle credit proposals from small and medium enterprises (SME).
Board of members in EXIM Bank: Export-Import Bank of India
The Exim bank constitutes of the board of directors with managing director and chairman. Currently, they are 13 members body. The board of membership consists of: objective and function of Exim Bank
Representatives of the government of India
Reserve bank of India
IDBI – Industrial Development Bank of India
ECGC – Export Credit Guarantee Corporation of India
Representatives of commercial banks
Representatives of exports
Chairman and managing director
EXIM MITRA –EXIM Bank: Export-Import Bank of India
It is created by EXIM bank to promote digital India, a one-step solution for all export and import needs. It is an online platform to delivery trade-related information and provides access to insurance for exporters and importers. objective and function of exim Bank