{"id":12122,"date":"2023-06-16T10:37:18","date_gmt":"2023-06-16T05:07:18","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=12122"},"modified":"2025-03-30T07:28:34","modified_gmt":"2025-03-30T01:58:34","slug":"about-export-import-bank-of-india-exim-bank","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/about-export-import-bank-of-india-exim-bank\/","title":{"rendered":"About Export-Import Bank of India (EXIM Bank)"},"content":{"rendered":"<h2><strong>About Export-Import Bank of India (EXIM Bank):<\/strong><\/h2>\n<ul>\n<li>It is the <strong>premier export finance institution of the country<\/strong>.<\/li>\n<li><strong>It was established <\/strong>by the Government of India, <strong>under the Export-Import Bank of India Act, 1981<\/strong><\/li>\n<li>EXIM Bank <strong>wholly owned by the Government of India<\/strong>.<\/li>\n<li><strong>Services<\/strong>:\n<ul>\n<li>EXIM Bank <strong>provides<\/strong> <strong>financial assistance to exporters and importers<\/strong>.<\/li>\n<li>It <strong>extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks, sovereign governments and other entities overseas<\/strong>, to enable buyers in those countries <strong>to import<\/strong> developmental and infrastructure projects, equipment, <strong>goods and services from India, on deferred credit terms<\/strong>.\u00a0<\/li>\n<li>It functions as the <strong>principal financial institution for coordinating the work of institutions engaged in financing export and import <\/strong>of goods and services with a view to promoting the country&#8217;s international trade.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Structure:<\/strong>\n<ul>\n<li>The operations of the Bank are <strong>governed by a Board of Directors.\u00a0<\/strong><\/li>\n<li>The Board of Directors c<strong>onsists of a chairman, a managing director, two deputy managing directors; one director <\/strong>each nominated by the Reserve Bank of India; IDBI Bank Ltd. and ECGC Ltd.; and <strong>not more than 12 directors nominated by the Central Government.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>What is a Line of Credit (LoC)?<\/h3>\n<ul>\n<li>It is a <strong>preset borrowing limit that can be tapped into at any time.<\/strong><\/li>\n<li>All LOCs <strong>consist of a set amount of money that can be borrowed<\/strong> <strong>as needed, paid back, and borrowed again.<\/strong><\/li>\n<li>The borrower <strong>can take money out as needed until the limit is reached.<\/strong><\/li>\n<li>As money is repaid, it can be borrowed again in the case of an open line of credit.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1)\u00a0What is a Line of Credit (LoC)?<\/h3>\n<p>\u00a0It is a preset borrowing limit that can be tapped into at any time. All LOCs consist of a set amount of money that can be borrowed as needed, paid back, and borrowed again.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/economictimes.indiatimes.com\/industry\/banking\/finance\/banking\/future-locs-to-africa-could-cover-defence-says-exim-bank-md\/articleshow\/101027546.cms\" target=\"_blank\" rel=\"nofollow noopener\"><u>Future LoCs to Africa could cover defence, says EXIM Bank MD<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Export-Import Bank of India is the premier export finance institution of the country.<\/p>\n","protected":false},"author":5,"featured_media":12123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-12122","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=12122"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/12123"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=12122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=12122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=12122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}