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The Export Import Bank of India, India Exim Bank is an institution that provides export finance to Indian companies. The bank was founded in 1982 and is headquartered in Mumbai, India. Among its many functions, the bank provides financing for export projects and capital equipment. Other financial products offered by the bank include guarantees, export project cash-flow deficit finance, and working capital loans. To learn more about this bank, read on. This article will provide you with more information on the Exim Bank.
Exim Bank
The Export-Import Bank of India is a wholly-owned institution of the Indian government that provides specialized financial services to Indian exporters and importers. Its primary mission is to promote foreign trade in India. The Bank’s range of services encompasses import and export finance, export technology, international marketing, pre and post-shipment, and overseas investment. To meet the diverse needs of the exporting industry, the bank has four main divisions: financial services, trade facilitation, and business development.
Function
The EXIM bank of India was established with the objective of providing financial assistance to Indian exporters and facilitating the globalization of Indian businesses. In addition to providing financial assistance, it is responsible for regulating and supervising the activities of other bodies in the import-export sector of India. It has been doing so for nearly a decade now. The following are some of its key functions:
Capital support
The Export Import Bank of India is a government agency that provides financial assistance to Indian companies engaged in export activities. Its services include providing term loans in foreign currencies for setting up new production facilities, expanding or upgrading existing ones, and acquiring production equipment. This financial institution lays emphasis on extending LOCs to overseas entities such as buyers, government departments, and commercial banks. It also offers term loans for equity investments in overseas wholly owned subsidiaries.
Lending to Indian companies
The state-owned Export-Import Bank of India has raised a red flag over its massive concessional loans to low and middle-income countries. But at the same time, the bank has been awarding loans to Indian companies for a variety of projects. The Export-Import Bank is extending LOCs to foreign entities, including buyers and suppliers, in addition to Indian companies. Here are some of the reasons why the bank is doing this.
Lending to overseas financial institutions
The Export-Import Bank of India is an Indian government agency that provides financing to companies in the export-oriented industry. The bank extends term loans in foreign currency for setting up new production facilities, upgrading existing facilities, and acquiring production equipment. The Export-Import Bank’s main focus is to lend to overseas entities, such as regional development banks, commercial banks, and buyers. It also provides loans to Indian companies for import and export projects, which facilitates Indian exporters to obtain payment of eligible values without negotiating shipping documents.
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