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EXIM Full Form

EXIM Full Form

Edited By Team Careers360 | Updated on May 31, 2023 03:56 PM IST

What is the full form of EXIM?

The Export-Import Bank of India is EXIM's abbreviation. Under the Export Import Bank of India Act (1981), Govt. of India established the Export-Import Bank of India (Exim Bank) in 1982 with the goal of supporting, enabling, and promoting India's international trade. It serves as the nation's main financial institution for coordinating the operations of organisations that finance exports and imports. The Indian government owns the entire stock of Exim Bank.

EXIM Full Form
EXIM Full Form

The Bank offers term loans in Indian rupees or other foreign currencies to export-oriented Indian enterprises for the construction of new production facilities, the expansion, renovation, or upgrading of existing facilities, and the purchase of production machinery or technology. The Bank has a specific emphasis on extending Lines of Credit (LOCs) to international organisations, governments at all levels, and commercial banks in the region.

Objectives of EXIM banks

The EXIM Bank's responsibilities and objectives are as follows:

  • To ensure the projected exports or imports

  • To promote and make it easier for international, technical, and merchant banking services to be exported, as well as those of their joint partnerships

  • To increase buyer credit and LOC length, as well as exporters' financial rivalry

  • To enlighten Indian exporters about their potential in various export fields and areas in a timely and relevant manner

  • To offer guidance on currency-related matters so that manufacturers, producers, or India can carry out exports and imports at a reasonable cost

  • To investigate the financial issues in India and offer solutions

  • To increase and encourage foreign trade in our nation of India

Frequently Asked Questions (FAQs)

1. Describe EXIM cargo?

Any cargo that is destined for export or import that is loose, bulky, liquid, break-bulk, or containerized is referred to as EXIM cargo.

2. How is EXIM Bank the best?

Two factors: scalability and easy access to money. Greater funding sources are available to EXIM banks at substantially cheaper interest rates than to commercial banks.

3. What is EXIM policy?

Exim Policy, also known as the Export-Import Policy, is a set of rules and directives that control the import and export of goods.

4. Does the RBI regulate Exim Bank?

Yes, RBI does regulate it. The Bank primarily provides loans for exports from India, including assisting foreign customers and Indian suppliers with the export of machinery, equipment, goods, and services from India.

5. What does EXIM manager mean?

The job of an Exim manager would be to manage international trade.

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