Industry

Cabinet approves capital infusion in Exim Bank: Sources

The Union Cabinet on Wednesday approved fund infusion in Export-Import Bank of India (Exim Bank), sources said.

The infusion would help the bank expand its business, they added.

The government had provided for ₹ 500 crore towards capital infusion in the Exim Bank in the budget for this fiscal.

The government had infused ₹ 500 crore in Exim Bank last financial year.

Established by the Government of India, Exim Bank commenced operations as a purveyor of export credit, mirroring global export credit agencies.

It serves as a growth engine for industries and small and medium enterprises through a wide range of products and services.

This includes import of technology and export product development, export production, export marketing, pre-shipment and post-shipment and overseas investment.

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Printable version | Nov 26, 2020 3:33:34 PM | https://www.thehindu.com/business/Industry/cabinet-approves-capital-infusion-in-exim-bank-sources/article26001925.ece

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