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Exim Bank of India

The Export-Import Bank of India (Exim Bank) is a specialized financial institution in India that was established in 1982. The bank's primary function is to finance, facilitate and promote India's international trade. It is owned by the Government of India and operates as a statutory corporation. Its operations are governed by the Export-Import Bank of India Act, 1981.[5][6]

Export Import Bank of India
Company typePublic
IndustryBanking
Founded1 January 1982 (1982 -01-01) (introduced)

7 April 1982 (1982 -04-07) (received assent of President of India)

(under the Export-Import Bank of India Act, 1981)
FounderGovernment of India
HeadquartersMumbai
Area served
9 branches in India(November 2022)
Key people
  • Ms. Harsha Bangari
    (Chairman) and (Managing director)
ServicesBanking
Financial services
Number of employees
540 (2021)
Subsidiaries
  • Exim Finserve IFSC[1]
  • Export-Import Bank of India, Asset Management Arm
  • Export Import Bank of India, London Branch (2006)[2][3]
Websitewww.eximbankindia.in Edit this at Wikidata
Footnotes / references
[4]

Exim Bank provides a wide range of financial services to Indian exporters and importers. These services include export credit, pre-shipment credit, post-shipment credit, and overseas investment finance. The bank also provides a range of advisory and support services to Indian businesses looking to expand their international operations. In addition to its domestic operations, Exim Bank has a strong presence in the international market. It has established partnerships and collaborations with other international development banks and financial institutions to support trade and investment flows between India and other countries.[5][7]

History

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The Export-Import Bank of India (Exim Bank) was founded by the Government of India under the Export-Import Bank of India Act, 1981, which was introduced in the Indian Parliament by the then Finance Minister, Shri Pranab Mukherjee. The act was passed by both houses of parliament and received the assent of the President of India on 7 April 1982. The first chairman and managing director of Exim Bank was Shri R.S. Rathore.[5][8]

Chronology

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  • 1982: Exim Bank was established on 1 January 1982, under the Export-Import Bank of India Act, 1981, with the aim of promoting and financing India's international trade.[5][9]
  • 1983: The first overseas representative office of Exim Bank was established in London, England.[10]
  • 1985: Exim Bank started providing Lines of Credit to overseas governments, enabling them to import goods and services from India on favorable credit terms.[11]
  • 1991: Exim Bank set up an Export Development Fund to support the export activities of small and medium-sized enterprises (SMEs) in India.[12]
  • 1992: Exim Bank launched the Buyer's credit program, which provides competitive financing to overseas buyers of Indian goods and services.[13]
  • 1994: Exim Bank signed an agreement with the African Development Bank to set up the India-Africa Fund to support trade and investment between India and Africa.[14]
  • 1999: Exim Bank established the India Development Fund to provide equity and quasi-equity support to Indian companies investing overseas.[15]
  • 2003: Exim Bank launched the Rural Initiative for Supporting Entrepreneurship (RISE) program to support rural entrepreneurs in India.[16]
  • 2007: Exim Bank launched the India-Africa Trade and Investment Promotion Program to promote trade and investment between India and Africa.[14]
  • 2011: Exim Bank launched the Project Development and Monitoring Facility to provide advisory services to Indian companies investing overseas.[17]
  • 2015: Exim Bank signed an agreement with the Development Bank of Southern Africa to set up the India-South Africa Development Partnership Fund to support development projects in South Africa.[18][19][20]
  • 2020: Exim Bank launched the Global Network Program to expand its overseas footprint and provide enhanced support to Indian businesses operating overseas.[21]
  • 2024: Exim Bank opened a representative office in Nairobi, Kenya.[22]

Organisation structure

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The Export-Import Bank of India (Exim Bank) has a well-defined organizational structure consisting of several departments and functional units that work together to achieve the bank's objectives.[5]

Management

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Exim Bank of India's management:[23]

Designation Name
managing director Ms. Harsha Bangari
Deputy managing director Mr. Tarun Sharma
Chief General Managers Mukul Sarkar, David Sinate, Prahalathan Iyer, Rima Marphatia, Manjiri Bhalerao, Deepali Agrawal, Tarun Sharma, Gaurav Bhandari, Utpal Gokhale, Vikramaditya Ugra
General managers Meena Verma, Dharmendra Sachan, Shilpa Waghmare, Uday Shinde, Lokesh Kumar, Rikesh Chand, Nirmit Ved, Meghana Joglekar, Priti Thomas, Manish Joshi, Ambrish Bhandari

Loans and investments

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LOCs given by the exim bank of India:[24]

In March 2008, the bank provided a credit of 100 million dollars to finance a road construction project and the construction of electrical infrastructure for the government of Nepal.[25]

In February 2019, the bank provided a credit of 200 million dollars to finance a project in the field of housing and infrastructure to the government of Uzbekistan.[26]

In March 2019, the bank provided a credit of 83 million dollars to finance a project in the field of solar energy in the Democratic republic of Congo.[27]

In March 2019, the bank provided a credit of 800 million dollars to finance projects in the Republic of Maldives.[28]

In August 2019, the bank provided a credit of 38 million dollars for an industrial project, in the field of water systems, to the Republic of Mozambique.[29]

In October 2019, the bank provided a credit of 30 million dollars to the Republic of Sierra Leone.[30][31]

In November 2019, the bank provided a credit of 30 million dollars for a project to improve the fresh water infrastructure in Ghana[32][33]

In January 2020, the bank provided a credit of 75 million dollars to finance a project in the field of solar energy in Cuba.[34]

Key people

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Key people associated with the Export-Import Bank of India (Exim Bank) and their roles:[35]

board of directors[35]
Position Name
Chairman and managing director Ms. Harsha Bangari
Deputy managing director Shri N. Ramesh
Secretary (ER), Ministry of External Affairs Shri Dammu Ravi
Additional Secretary, Department of Economic Affairs, Ministry of Finance Shri Rajat Kumar Mishra
Additional Secretary, Department of Financial Services, Ministry of Finance Shri Suchindra Misra
Joint Secretary, Department of Commerce, Ministry of Commerce & Industry Shri Vipul Bansal
Executive Director, Reserve Bank of India Shri R. Subramanian
Chairman-cum-managing director, ECGC Ltd. Shri M. Senthilnathan
managing director & CEO, IDBI Bank Ltd Shri Rakesh Sharma
Chairman, State Bank of India Shri Dinesh Kumar Khara
managing director & CEO, Bank of Maharashtra Shri A.S. Rajeev
managing director & CEO, Central Bank of India Shri Matam Venkata Rao
Non Official Director Shri Ashok Kumar Gupta

Past Chief Executives

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Sr. No.[5] Chief Executives of Exim Bank Tenure
1 Shri. R.C. Shah 1982–1985
2 Shri. Kalyan Banerji 1985–1993
3 Ms. Tarjani Vakil 1993–1996
4 Shri. Y.B. Desai 1997–2001
5 Shri. T.C. Venkat Subramanian 2001–2009
6 Smt. Ravneet Kaur (additional charge) 2009–2010
7 Shri. T.C. A. Ranganathan 2010–2013
8 Shri. Anurag Jain (additional charge) 2013–2014
9 Shri. Yaduvendra Mathur 2014–2017
10 Shri. David Rasquinha 2017–2021
11 Ms. Harsha Bangari 2021–present

Branches

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The Export-Import Bank of India (Exim Bank) has its headquarters in Mumbai, Maharashtra, India. Apart from the headquarters, Exim Bank has several branches and overseas offices to cater to the needs of Indian exporters and importers. Here are the details of Exim Bank's branches and offices:[36][37]

  1. Domestic Branches: Exim Bank has 9 domestic offices located in Mumbai, Delhi, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad, Pune, and Guwahati.
  2. Overseas Offices: Exim Bank has 8 overseas offices located in Washington D.C. (USA), London (UK), Johannesburg (South Africa), Singapore, Tokyo (Japan), Beijing (China), Dhaka (Bangladesh), and Yangon (Myanmar).
  3. Representative Offices: Exim Bank also has representative offices in various countries to promote and facilitate India's trade relations with those countries. These representative offices are located in Abu Dhabi (UAE), Accra (Ghana), Addis Ababa (Ethiopia), Colombo (Sri Lanka), Dubai (UAE), Istanbul (Turkey) and Nairobi (Kenya).[22]

Subsidiaries

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The Export-Import Bank of India (Exim Bank) has two subsidiaries.[7]

  1. Exim Bank Asset Management Company Ltd. (EBAMC): It was incorporated in 2015 and is headquartered in Mumbai, India. EBAMC is a wholly-owned subsidiary of Exim Bank of India and is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund (AIF). The company manages funds in the areas of infrastructure, private equity, and other alternative asset classes.
  2. Export Import Bank of India, London Branch: It is a subsidiary of Exim Bank of India and operates as Exim Bank's London branch. The London branch was established in 2006 and is located in London, UK. It provides a range of financial services to customers in the UK, Europe, and other countries. The services offered by Export Import Bank of India, London Branch include trade finance, project finance, corporate lending, and advisory services.[10][2][3]
  3. Exim Finserve IFSC Pvt Ltd.: It was incorporated in 2023 in International Financial Services Centre, GIFT City, Gujarat.[1]

Functions and responsibilities

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The Export-Import Bank of India (Exim Bank) has been established with the aim of promoting and financing India's international trade. Here are the main functions and responsibilities of Exim Bank:

  • Financing: Exim Bank provides financial assistance to Indian exporters and importers in the form of pre-shipment and post-shipment credit, buyer's credit, lines of credit, and project export finance.[15]
  • Export marketing: Exim Bank provides advisory services and support to Indian exporters in identifying new markets and expanding their international trade.[38]
  • Export credit insurance: Exim Bank provides export credit insurance to Indian exporters to protect them against the risks of non-payment by overseas buyers.[13]
  • Research and development: Exim Bank conducts research and analysis on international trade and finance and provides information and intelligence to Indian businesses and policymakers.[39]
  • Collaboration: Exim Bank collaborates with other institutions, both in India and overseas, to promote and facilitate India's international trade and investment.
  • Policy advocacy: Exim Bank represents the interests of Indian exporters and importers in international forums and advocates policies that promote India's international trade and investment.[40]
  • Lines of Credit: Exim Bank extends lines of credit to overseas entities, including governments, financial institutions, and commercial banks, to promote India's exports and support the development of infrastructure in recipient countries.[11]
  • Project Finance: Exim Bank provides project finance to Indian companies for executing overseas projects, especially in developing countries, to support India's international business interests.[41]
  • SME Financing: Exim Bank provides financing and advisory services to small and medium-sized enterprises (SMEs) in India to help them enter the international market and grow their businesses.[12][42]
  • Capacity building: Exim Bank conducts training and capacity-building programs for Indian businesses and government officials to enhance their skills and knowledge related to international trade and finance.
  • Corporate social responsibility (CSR): Exim Bank has a CSR program that focuses on education, healthcare, environment, and community development. The bank supports various initiatives in India and overseas to promote sustainable development and social welfare.[43]

See also

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References

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  1. ^ a b "India Exim Bank launches subsidiary for trade financing in GIFT City". The Indian Express. 8 August 2023. Archived from the original on 8 August 2023. Retrieved 8 August 2023.
  2. ^ a b "Export-Import Bank Of India/London – Company Profile and News". Bloomberg.com. Archived from the original on 8 August 2023. Retrieved 29 March 2023.
  3. ^ a b "Export-Import Bank of India, London Branch | Reports | Moody's". www.moodys.com. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  4. ^ "EXIM Bank Board of Directors". EXIM Bank. Archived from the original on 29 March 2023. Retrieved 28 March 2023.
  5. ^ a b c d e f "Organisation – About Us – Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  6. ^ "Export-Import Bank of India (EXIM Bank) | Department of Financial Services | Ministry of Finance | Government of India". financialservices.gov.in. Archived from the original on 5 February 2023. Retrieved 29 March 2023.
  7. ^ a b "Exim Bank of India". iibf.org.in. Archived from the original on 6 November 2019. Retrieved 29 March 2023.
  8. ^ "Export Import Bank of India History". The Economic Times. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  9. ^ "THE EXPORT-IMPORT BANK OF INDIA ACT, 1981" (PDF). legislative.gov.in. Archived (PDF) from the original on 28 October 2021. Retrieved 29 March 2023.
  10. ^ a b "Exim Bank's London branch kicks off – Indian Express". archive.indianexpress.com. Archived from the original on 31 December 2016. Retrieved 29 March 2023.
  11. ^ a b "Business Line of Credit Loan | Overseas Financial Institutions". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  12. ^ a b Kumar, K. Ram (9 December 2020). "Exim Bank, SIDBI to set up investment fund to provide loan support to SMEs". www.thehindubusinessline.com. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  13. ^ a b "Buyer credit | Credit Facility Programme | Financing Solution". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  14. ^ a b "Exim Bank's Financing Initiatives and Activities in Africa". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  15. ^ a b "Overseas Investment Finance – Financial Products – Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  16. ^ "MSME Scheme" (PDF). msme.gov.in. Archived (PDF) from the original on 29 March 2023. Retrieved 29 March 2023.
  17. ^ "Leaflet – Exim Bank" (PDF). www.eximbankindia.in. Archived (PDF) from the original on 29 March 2023. Retrieved 29 March 2023.
  18. ^ Chaudhury, Dipanjan Roy (November 2022). "India Africa Trade: Indian Exim Bank inks pact with Southern Africa's leading bank to boost India-Africa trade". The Economic Times. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  19. ^ "Indian Exim Bank Inks Pact With Southern Africa's Leading Bank to Boost India-Africa Trade". currentaffairs.adda247.com. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  20. ^ "India- Africa Exim Bank" (PDF). World Trade Organization. Archived (PDF) from the original on 29 March 2023. Retrieved 29 March 2023.
  21. ^ "Press Releases – News & Events – India Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  22. ^ a b Vincent Owino (3 June 2024). "Indian bank ups Kenya lending to Sh33bn as it opens Nairobi office". Business Daily Africa. Nairobi, Kenya. Retrieved 3 June 2024.
  23. ^ "Management – About Us – Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  24. ^ "Exim Bank Initiatives". Mcommerce. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  25. ^ "Reserve Bank of India – Notifications". www.rbi.org.in. Archived from the original on 26 January 2022. Retrieved 18 January 2020.
  26. ^ "EXIM INDIA EXTENDS A LINE OF CREDIT OF USD 200 MILLION". 6 February 2019. Archived from the original on 18 February 2020. Retrieved 8 August 2023.
  27. ^ India, Press Trust of (19 March 2019). "Exim Bank gives $83 mn line of credit to Congo to finance 3 solar power projects". Business Standard India. Archived from the original on 31 January 2023. Retrieved 18 January 2020.
  28. ^ PTI. "Exim Bank extends $800 mn credit to Maldives for developmental projects". @businessline. Archived from the original on 18 February 2020. Retrieved 18 January 2020.
  29. ^ "Exim Bank's of India supported Line of Credit of 38 million USD to the Government of the Republic of Mozambique" (PDF). 1 August 2019. Archived (PDF) from the original on 18 February 2020. Retrieved 8 August 2023.
  30. ^ "Exim Bank, On Behalf Of The Government Of India, Extends A Line Of Credit [Loc] Of Usd 30 Million To The Government Of The Republic Of Sierra Leone". Archived from the original on 18 February 2020. Retrieved 18 January 2020.
  31. ^ "Sierra Leone News; Sierra Leone signs $30m credit line with India Exim bank". Awoko Newspaper. Archived from the original on 22 October 2019. Retrieved 8 August 2023.
  32. ^ India, Press Trust of (7 November 2019). "Exim Bank gives USD 30 mn line of credit to Ghana". Business Standard India. Archived from the original on 26 January 2022. Retrieved 18 January 2020.
  33. ^ "Exim Bank gives $30 million line of credit to Ghana". Moneycontrol. Archived from the original on 8 February 2023. Retrieved 18 January 2020.
  34. ^ "India extends $75 million line of credit for solar parks in Cuba". The Financial Express. 3 January 2020. Archived from the original on 13 September 2022. Retrieved 18 January 2020.
  35. ^ a b "Board of Directors – About Us – Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  36. ^ Chaudhury, Dipanjan Roy (26 March 2016). "Exim bank plans to scale up presence with more branches". The Economic Times. ISSN 0013-0389. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  37. ^ "Get in touch – Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  38. ^ "Export Advisory Service – Services – Exim Bank". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  39. ^ "Export and Import | Data analysis in research". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  40. ^ "Marketing Advisory Services | India's Foreign Trade Policy". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  41. ^ "Export And Import Finance | Project Exports India". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  42. ^ "STRATEGIC DEVELOPMENT OF MSMEs".[permanent dead link‍]
  43. ^ "ESG FRAMEWORK". www.eximbankindia.in. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
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