Export-Import Bank of India (EXIM Bank)

Table of Contents

The Export-Import Bank of India (Exim Bank), established in 1982, is a specialised financial institution dedicated to financing, facilitating, and promoting India’s international trade.

Objectives

To provide financial assistance to exporters and importers.
To function as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country’s international trade.

Features

Exim Bank is owned by the Government of India.
The Exim Bank functions as a statutory corporation, and its operations are governed by the provisions of the Export-Import Bank of India Act, 1981.
Exim bank also extends loans to overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import goods and services from India. (It extends the loan on its own and also at the order and with the support of the Government of India.)
It provides both direct financial assistance to exporters/importers and indirect financial assistance by way of refinance

Significance of EXIM Bank

Supports economic diplomacy through concessional loans to foreign governments.
Bridges the trade financing gap that private banks often avoid due to risk.
Helps Indian companies expand globally by funding overseas acquisitions and projects.
Enhances India’s soft power by supporting development projects in partner countries.
Promotes non-traditional markets and South-South cooperation.

FAQs

Q1. When was EXIM Bank established and under which Act?

EXIM Bank was established in 1982 under the Export-Import Bank of India Act, 1981.

Q2. Is EXIM Bank a commercial bank?

No, it is a specialized development financial institution focused on foreign trade.

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