Question 1

What is Export-Import Bank of India?

Accepted Answer

Export-Import Bank of India (Exim Bank) is a specialized financial institution focused on financing, facilitating, and promoting India's international trade. Wholly owned by the Government of India, it operates as a statutory corporation under the Export-Import Bank of India Act, 1981. The bank functions as the principal institution coordinating export-import financing activities across India.

Exim Bank serves as a growth engine for Indian businesses, supporting industries and small and medium-sized enterprises (SMEs) through a comprehensive range of products and services. The bank has established a significant international presence with overseas offices in key financial centers around the world.

Question 2

When was Export-Import Bank of India founded?

Accepted Answer

Export-Import Bank of India was founded on January 1, 1982, following the passage of the Export-Import Bank of India Act, 1981 by the Indian Parliament. The act received the President of India's assent on April 7, 1982.

The bank was established after more than two decades of debate regarding the need for a specialized export credit agency in India. The decision to create Exim Bank was announced by Finance Minister R. Venkataraman on June 18, 1980, in his budget speech to Parliament. The bank commenced operations in March 1982 under its first Chairman and Managing Director, R.S. Rathore.

The establishment of Exim Bank reflected India's evolving economic priorities, as the country shifted from primarily exporting commodities to developing internationally competitive manufactured goods and engineering products.

Question 3

Where is Export-Import Bank of India headquartered?

Accepted Answer

Export-Import Bank of India is headquartered in Mumbai, Maharashtra, India. The head office is located at Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005.

The bank maintains 9 regional offices across major Indian cities including Delhi, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad, Pune, and Guwahati.

Question 4

Where does Export-Import Bank of India operate?

Accepted Answer

In Singapore, Export-Import Bank of India operates as a representative office under a banking license granted by the Monetary Authority of Singapore (MAS). The Singapore representative office is located at 20 Collyer Quay, #10-02, Singapore 049319.

The office is headed by Chief Representative Rani Somasundaram and serves as one of the bank's strategic overseas offices in the Asia-Pacific region. Singapore is part of Exim Bank's network of 8 overseas offices globally, which also includes locations in Washington D.C., London, Johannesburg, Tokyo, Beijing, Dhaka, and Yangon.

The Singapore office supports Indian businesses operating in Southeast Asia and facilitates trade and investment flows between India and the region.

Question 5

What services does Export-Import Bank of India offer?

Accepted Answer

Export-Import Bank of India offers a comprehensive suite of trade finance and export facilitation services, including:

Export Financing: Lines of Credit to foreign governments and institutions, Buyer's Credit programs, Pre-shipment Credit for manufacturers, Post-shipment Credit, and Project Export Finance for turnkey projects and civil construction contracts.

Export Competitiveness Enhancement: Term Loans for export-oriented production facilities, Export Product Development financing, Overseas Investment Finance, Import Finance for technology and equipment, and Sustainable Finance programmes.

MSME Support: The Ubharte Sitaare Programme for domestically successful companies entering export markets, Trade Assistance Programme bridging financing gaps, and Export Factoring services.

Advisory and Developmental Services: Marketing Advisory Services, Research and Analysis on international trade, Grassroots Initiatives for Development supporting rural enterprises and artisans, and consultancy services for overseas entities and governments.

Guarantee Services: Various types of guarantees and Letters of Credit to facilitate export contracts and import transactions.

The bank also extends the Buyer's Credit under National Export Insurance Account (BC-NEIA) programme to facilitate medium and long-term exports from India with credit insurance coverage.

Question 6

What makes Export-Import Bank of India unique?

Accepted Answer

Export-Import Bank of India stands out as the sole specialized export credit agency in India, mirroring global export credit agencies with its dual mandate of traditional export finance and export capability creation.

The bank uniquely implements Government of India policies through its extensive Lines of Credit programme, supporting developmental projects in partner countries while creating opportunities for Indian contractors and exporters. This government-backed approach has enabled Indian companies, including MSMEs, to execute projects in uncharted territories and advance up the value chain.

Exim Bank's focus on inclusive growth distinguishes it from conventional trade finance institutions. Through initiatives like the Grassroots Initiatives for Development programme and alignment with the One District One Product (ODOP) initiative, the bank supports rural enterprises and artisans in reaching international markets.

The bank has established a Technology and Innovation Enhancement and Infrastructure Development (TIEID) fund of USD 500 million exclusively for MSMEs, providing competitive financing to augment export competitiveness. With over 40 years of experience and operations spanning numerous countries, Exim Bank serves as India's primary instrument for economic diplomacy and trade facilitation.

Question 7

What type of financial institution is Export-Import Bank of India?

Accepted Answer

Export-Import Bank of India is a Development Finance Institution (DFI) and Export Credit Agency (ECA) that operates as a specialized financial institution under statutory authority. The bank functions as a government-owned corporation established through parliamentary legislation.

Unlike commercial banks, Exim Bank focuses exclusively on international trade finance and export promotion rather than traditional retail or commercial banking services. As India's principal export credit agency, it fulfills a developmental role by coordinating institutions engaged in financing exports and imports while implementing national trade policies.

The bank operates under the regulatory framework established by the Export-Import Bank of India Act, 1981, and is governed by a Board of Directors that includes government officials, representatives from the Reserve Bank of India, and industry professionals. This structure reflects its unique position as both a financial institution and a policy implementation arm of the Government of India.

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