Cabinet approves recapitalisation of Export-Import Bank of India

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....abinet approves recapitalisation of Export-Import Bank of India <br>News and Press Release<br>Dated:- 16-1-2019<br><BR>The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the recapitalization of EXIM Bank. The details are as follows: (i) Issuance of Recapitalization Bonds by Government of India to the tune of &#8377; 6,000 crore for capital infusion in Export Import....

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.... Bank of India (Exim Bank). (ii) The equity will be infused in two tranches of &#8377; 4,500 crore in FY 2018-19 and &#8377; 1,500 crore in FY 2019-20 respectively. (iii) The Cabinet also approved an increase in the authorized capital of Exim Bank from &#8377; 10,000 crore to &#8377; 20,000 crore. The recapitalisation bonds will be on the lines issued to Public Sector Banks. Major Impact: *....

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.... Exim Bank is the principal export credit agency for India. * The infusion of capital into Exim Bank will enable it to augment capital adequacy and support Indian exports with enhanced ability. * The infusion will give an impetus to anticipate new initiatives like supporting Indian textile industries, likely changes in Concessional Finance Scheme (CFS), likelihood of new LoCs in future in view....

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.... of India&#39;s active foreign policy and strategic intent. Background: Exim Bank of India (Exim Bank) was established in 1982 under an Act of Parliament as the apex financial institution for financing, facilitating and promoting India&#39;s international trade. The Bank primarily lends for exports from India including supporting overseas buyers and Indian suppliers for export of developmental a....

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....nd infrastructure projects, equipment, goods and services from India. It is regulated by RBI.<BR> News - Press release - PIB....