About Export-import bank of india
Export-Import Bank of India: Promoting Foreign Trade and Indian Exports
Export-Import Bank of India, also known as EXIM Bank, is a premier financial institution in India that provides financial assistance to Indian exporters and importers. The bank was established in 1982 by the Government of India with the aim to promote foreign trade and boost the country's exports. Since then, EXIM Bank has been playing a crucial role in facilitating international trade by providing various financial products and services.
EXIM Bank offers a wide range of financial products and services to support Indian exporters and importers. These include export credit, pre-shipment credit, buyer's credit, lines of credit for overseas projects, export guarantees, factoring services, advisory services for project exports, etc. The bank also provides funding for research and development activities related to exports.
One of the key objectives of EXIM Bank is to enhance the competitiveness of Indian exports by providing timely and cost-effective finance. The bank offers various export credit schemes such as post-shipment finance (PSF), pre-shipment finance (PSP), export bills rediscounting facility (EBR), etc., which are designed to meet the diverse financing needs of exporters.
In addition to financing support for exports, EXIM Bank also promotes foreign trade through its international operations. The bank has established branches in several countries including USA, UK, South Africa, Singapore among others which provide local support for Indian companies doing business abroad.
EXIM Bank has been instrumental in promoting several sectors such as agriculture & allied activities; engineering; chemicals & pharmaceuticals; textiles; gems & jewellery; leather & leather products among others through its various initiatives like Project Export Finance Scheme (PEFS); Market Development Assistance Scheme (MDA); Technology Upgradation Fund Scheme(TUFS) among others.
The bank has played an important role in supporting small businesses through its MSME division which provides customized solutions tailored specifically for the needs of small and medium-sized enterprises. The division offers various financial products such as term loans, working capital finance, export credit, etc., to help MSMEs grow and expand their businesses.
EXIM Bank has also been actively involved in promoting sustainable development through its Green Finance initiatives. The bank provides financing for projects that promote renewable energy, energy efficiency, water conservation, waste management among others.
In conclusion, Export-Import Bank of India is a vital institution that plays a crucial role in promoting foreign trade and boosting Indian exports. With its wide range of financial products and services tailored to meet the diverse needs of exporters and importers alike, EXIM Bank has become an indispensable partner for Indian businesses looking to expand their global footprint. Its commitment to sustainable development further underscores its importance as a responsible financial institution that is dedicated to supporting India's growth story on the global stage.