The Export-Import Bank of India is the premier export finance institution of the country, set up in 1982 under the Export-Import Bank of India Act, 1981. In this article, you will know the services of EXIM bank. The government of India launched the institution with a mandate not just to enhance export from India but to integrate the country’s foreign trade and investment with the overall economic growth.
Top 7 Services of EXIM Bank
1. Export Credit
EXIM Bank of India has been the prime mover in encouraging project exports from India. The Bank provides Indian project exporters with a comprehensive range of services to enhance the project of their securing export contracts, particularly those funded by Multilateral funding Agencies like the world bank, the Asian development bank, the African Development Bank, and the European Bank of Reconstruction and Development. It is one of the services of EXIM bank.
2. Finance for Export-Oriented Units
The Bank provides financial assistance through term loans in Indian rupees/foreign currencies, expansion/modernization/upgradation of existing facilities, and the acquisition of production equipment/technology. It is one of the services of EXIM bank. Such facilities, particularly heap export-oriented small and medic’s expertise for creating export capabilities.
3. SME Finance
Under its export marketing finance program, EXIM Bank supposes small and medium enterprises in their export-marketing efforts, including financing the soft expenditure for implementing strategic and systematic expert market development plans.
4. Rural Initiatives
The Bank has launched rural initiatives programmed to link the Indian rural industry to the global market.
5. Line of Credit
The financial institution extends lines of credit to foreign places, monetary establishments, overseas governments, and organizations, allowing them to finance import goods and services from India on different credit phrases. EXIM financial institutions’ strains of credit score obviate credit score dangers for Indian exporters and are of specific relevance to SME exporters.
6. Overseas Investment Finance
The Bank’s overseas investment finance program offers a variety of facilities for Indian investment and acquisition overseas. The facilities include loans to Indian companies for equity Participants by EXIM bank is the overseas venture and non-funded facilities such as letters of credit and guarantees to facilitate local borrowing by the overseas venture.
7. EMS Programmers
The Bank has put in place the Export Marketing Services (EMS) programmers to assist small and medium enterprises. Through EMS, the Bank seeks to establish, on best efforts basis, SMF seller products in the overseas market, from identifying prospective business partners to facilitating placement to the final order.