FUNCTIONS OF EXIM BANK

Explains formation, objectives and major functions of Export and Import bank,

1. Points to be spell out Introduction Origin of EXIM Bank Formation Objectives Functions of EXIM Bank C onclusion

2. Introduction Headquarters :- Mumbai, India It is the premier export finance institution in India, established in 1982 under EXIM Bank Act 1981. Since its inception, Exim Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment . Exim bank of India, over the period, evolved into an institution that plays an important role in partnering Indian industries, particularly the Small and Medium Enterprises

3. Origin of EXIM Bank

4. FORMATION An act of parliament set up the Export-Import Bank of India in September 1981 . It commenced its operation from March 1982 . Sri R.C. Shah, was the first Chairman and Managing Director of EXIM bank

5. FEATURES

6. Objectives For providing financial assistance to exporters and for functioning 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 promote the country’s international trade.

7. Management: EXIM Bank is managed by a Board of Directors , which has representatives from the government , RBI , Export Credit Corporation of India, a Financial Institution, Public sector banks, and the business community. Chairman and managing Director 5 Directors : Government of India 3 Directors : Scheduled Bank 4 Directors : Professionals/ Experts 1 Director nominated by RBI 1 Director nominated by IDBI 1 director nominated by ECGC Appointed by Government of India

8. Functions 1. Corporate Banking Group :- This group handles variety of financing programmes for Export Oriented Units (EOU’s), Importers, and overseas investment by Indian companies . 2. Project Finance/ Trade Finance :- This group handles the entire range of export credit services such as suppliers credit, pre-shipment Agri-business Group etc. The group handles projects and export transactions in the agricultural sector for financing.

9. Export Services Group :- This group offers variety of advisory and value-added information services aimed at investment promotion. Export Marketing Group :- This group offers assistance to Indian companies, to enable them to establish their products in overseas markets . Support Services Group :- The services which are rendered by this group includes the Areas of research and planning, Corporate Finance, Loan Recovery, Internal Audit etc.

10. Conclusion This bank was mainly created for the purpose of financing medium and long term loans to exporters thereby promoting the country’s foreign trade. EXIM bank of India has been both a promoter and the key player in the promotion of cross border trade and investment.