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EXECUTIVE SUMMARY

The Export-Import Bank of India (Exim Bank of India) is Indias national Export
Finance Institution, fully owned by the Government of India. The Bank is engaged in
financing, facilitating and promoting Indias two-way international trade and
investment, and seeks to enhance the international competitiveness of Indian
enterprises. Recognizing the dynamics of international trade, Exim Bank of Indias
vision has evolved beyond providing export credit to a conscious, systematic effort at
creating international competitiveness capabilities by arranging competitive finance
and services at all stages of the business cycle.
Export-Import Bank of India is the premier export finance institution of the country. It
commenced operations in 1982 under the Export-Import Bank of India Act 1981.
Government of India launched the institution with a mandate to not just enhance
exports from India, but also to integrate the countrys foreign trade and investment
with the overall economic growth.

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CHAPTER 1
INTRODUCTION
Export-Import Bank of India is the premier export finance institution in India,
established in 1982 under the Export-Import Bank of India Act 1981. Since its
inception, Exim Bank of India has been both a catalyst and a key player in the
promotion of cross border trade and investment. Commencing operations as a
purveyor of export credit, like other Export Credit Agencies in the world, Exim Bank
of India has, over the period, evolved into an institution that plays a major role in
partnering Indian industries, particularly the Small and Medium Enterprises, in
their globalisation efforts, through a wide range of products and services offered at all
stages of the business cycle, starting from import of technology and export product
development to export production, export marketing, pre-shipment and post-shipment
and overseas investment.
Export-Import Bank of India (Exim Bank) www.eximbankindia.in Export-Import
Bank of India (EXIM Bank) is a specialized financial institution, wholly owned by
Government of India, set up in 1982, for financing, facilitating and promoting foreign
trade of India. EXIM Bank extends Lines of Credit (LOCs) to overseas financial
institutions, regional development banks, sovereign governments and other entities
overseas, to enable buyers in those countries to import developmental and
infrastructure projects, equipment, goods and services from India, on deferred credit
terms. EXIM Bank has laid strong emphasis on enhancing project exports, the funding
options for which have been enhanced with introduction of the Buyer's CreditNational Export Insurance Account (BC-NEIA) program.
The Bank facilitates two-way technology transfer by financing import of technology
into India, and investment abroad by Indian companies for setting up joint ventures,
subsidiaries or undertaking overseas acquisitions. To promote hi-tech exports from
India, the Bank has a lending programme to finance research and development (R&D)
activities of export-oriented companies. During the year ended 31st March, 2013,

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EXIM Bank sanctioned loans of Rs.40,960 crore, while disbursements amounted to


Rs.40,635 crore. Loan Assets stood at Rs.65,563 crore as on March 31, 2013.
EXIM Bank has put in place a Technology and Innovation Enhancement and
Infrastructure Development (TIEID) Fund of US$ 500 million exclusively for
MSMEs by partnering with Banks/FIs. TIEID seeks to meet long term foreign
currency loan requirements of the MSME sector in addition to offering short-term
export credit refinance in rupee and foreign currency. The Bank has put in place an
Export Marketing Services (EMS) Programme to assist Indian companies in
identification of prospective business partners, facilitating placement of final orders
and also identification of opportunities for setting up plants or projects or for
acquisition of companies overseas. During 2012-13, EXIM Bank became the first
ever Indian entity to be included in the Emerging Market Bond Index. The Bank
became the first Indian entity to tap the Australian Dollar market and Singapore
Dollar market.

CHAPTER 1.1
CHAIRMAN AND MANAGING DIRECTOR
EXPORT-IMPORT BANK OF INDIA
SHRI YADUVENDRA MATHUR
Chairman and Managing Director, Export-Import Bank of India
Shri. Yaduvendra Mathur has been appointed by the Government of India as
Chairman and Managing Director of Export-Import Bank of India (Exim Bank). Prior
to this appointment, Shri. Mathur was Chairman and Managing Director, Rajasthan
Financial Corporation, since 2011.
Shri. Mathur is an Indian Administrative Service Officer of the 1986 batch. A First
Class Graduate in Economics and an MBA in Finance, Shri. Mathur has worked with
Golden Tobacco and Associated Cement Companies in Mumbai between 1982 1984

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before joining the Indian Revenue Services (Income Tax) in 1984 and then the IAS in
1986, topping his batch.
He has had long stints in various positions in the Finance Department including
Principal Secretary Finance, Government of Rajasthan. During his postings under the
Department of Economic Affairs (2001-2003) at Cote d'Ivoire and Tunisia, Shri.
Mathur worked as Assistant to the Executive Director. He has had long stints
(representing India, Norway, Denmark, Sweden, Finland and Switzerland) of African
Development Bank. He was then actively engaged with the Export-Import Bank of
India in enhancing and promoting business opportunities for Indian companies in the
African continent through Technical Cooperation Agreements. As Energy Secretary of
Rajasthan for over three years, Shri. Mathur contributed in the setting up of three
greenfield power plants in the state. He was also Planning Secretary, PHED Secretary
and Director General Revenue Intelligence in Government of Rajasthan. He also has
experience as Managing Director of a Textile Mill at Bhilwara and as Chairman of
Indira Gandhi Canal Board. Shri. Mathur was Collector & District Magistrate of
Bhilwara and Bharatpur and has also served for over three years as Senior Deputy
Director at the Lal Bahadur Shastri National Academy of Administration, Mussoorie.

CHAPTER 1.2
FUNCTIONS OF EXIM BANK
Export-Import Bank of India is the premier export finance institution of the country. It
commenced operations in 1982 under the Export-Import Bank of India Act 1981.
Government of India launched the institution with a mandate to not just enhance
exports from India, but also to integrate the countrys foreign trade and investment
with the overall economic growth. Exim Bank of India has been both a catalyst and a
key player in the promotion of cross border trade and investment. Commencing
operations as a purveyor of export credit, like other Export Credit Agencies in the
world, Exim Bank of India has evolved into an institution that plays a major role in
partnering Indian industries, particularly the Small and Medium Enterprises through a
wide range of products and services offered at all stages of the business cycle, starting
from import of technology and export product development to export production,
export marketing, pre-shipment and post-shipment and overseas investment.
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Exim Bank is managed by a Board of Directors, which has representatives from the
Government, Reserve Bank of India, Export Credit Guarantee Corporation of India,
a financial institution, public sector banks, and the business community.
The Bank's functions are segmented into several operating groups including:
1. Corporate Banking Group which handles a variety of financing programmes
for Export Oriented Units (EOUs), Importers, and overseas investment by
Indian companies.
2. Project Finance / Trade Finance Group handles the entire range of export
credit services such as supplier's credit, pre-shipment Agriculture Business
Group, to spearhead the initiative to promote and support Agricultural exports.
The Group handles projects and export transactions in the agricultural
sector for financing.
3. Small and Medium Enterprise: The group handles credit proposals from SMEs
under various lending programmes of the Bank.
4. Export Services Group offers variety of advisory and value-added information
services aimed at investment promotion.
5. Export Marketing Services Bank offers assistance to Indian companies, to
enable them establish their products in overseas markets. The idea behind this
service is to promote Indian export. Export Marketing Services covers wide
range of export oriented companies and organizations. EMS group also covers
Project exports and Export of Services.
The important functions of Exim Bank are as follows:
1. Planning, promoting and developing exports and imports;
2. Providing technical, administrative and managerial assistance for promotion,
management and expansion of exports;
3. Undertaking market and investment surveys and techno-economic studies
related to development of exports of goods and services.
4. It provides direct financial assistance to exporters of plant, machinery and
related service in the form of medium-term credit.
5. Underwriting the issue of shares, stocks, bonds, debentures of any company
engaged in exports.
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6. It provides rediscount of export bills for a period not exceeding 90 days


against short-term usance export bills discounted by commercial banks.
7. The bank gives overseas buyers credit to foreign importers for import of
Indian capital goods and related services.
8. Developing and financing export oriented industries.
9. Collecting and compiling the market and credit information about foreign
trade.
10. Financing of exports and imports of goods and services, not only of India but
also of the third world countries;
11. Financing of exports and imports of machinery and equipment on lease basis;
12. Financing of joint ventures in foreign countries;
13. Providing loans to Indian parties to enable them to contribute to the share
capital of joint ventures in foreign countries;
14. To undertake limited merchant banking functions such as underwriting of
stocks, shares, bonds or debentures of Indian companies engaged in export or
import; and
15. To provide technical, administrative and financial assistance to parties in
connection with export and import.

Besides these, the Support Services groups, which include: Research & Planning,
Treasury and Accounts, Loan Administration, Internal Audit, Management
Information

Services,

Information

Technology,

Management and Corporate Communications.

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Legal,

Human

Resources

CHAPTER 1.3
OBJECTIVES
for providing financial assistance to exporters and importers, and for functioning
as the principal financial institution for coordinating the working of institutions
engaged in financing export and import of goods and services with a view to
promoting the countrys international trade
shall act on business principles with due regard to public interest
MAIN OBJECTS
The Export-Import Bank of India Act, 1981. The Export-Import Bank of India was set
up by the Government of India on January 1, 1982.
Its main objects are:
1. To ensure and integrated and co-ordinated approach in solving the allied problems
encountered by exporters in India.
2. To pay specific attention to the exports of capital goods;
3. Export projection;
4. To facilitate and encourage joint ventures and export of technical services and
international and merchant banking;
5. To extend buyers credit and lines of credit;
6. To tap domestic and foreign markets for resources for undertaking development and
financial activities in the export sector.

CHAPTER 1.4

MANAGEMENT, FUNCTIONS AND ACTIVITIES OF


EXIM BANK
The Export-Import Bank (Exim bank) was set up on January 1, 1982 to take over the
operations of international finance wing of the IDBI and to provide financial
assistance to exporters and importers and to function as a head financial institution for
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coordinating the working of other institutions engaged in financing of exports and


imports of goods and services.
The authorised capital of Exim bank is Rs. 200 crore and paid-up-capital is Rs. 100
crore wholly subscribed by the Central Government.
Organisation and Management:
The Exim Bank is managed by a Board consisting of a Managing Director who is the
Chairman and 17 Directors representing different areas. They are Secretary to the
Department of Industrial Board, Commerce Secretary, Finance Secretary, Secretary to
Banking, Secretary IDBI, Secretary ECGC Secretary RBI, 3 directors representing
other scheduled commercial banks, 4 Directors chosen from export community and 3
others representing ministries and departments.
The authorised capital of Exim Bank is Rs. 200 crores, of which Rs. 75 crores is paid
up. The banks have secured a long-term loan of Rs. 20 crores from the Government of
India. It can also borrow from the RBI. It is empowered to raise resources in domestic
and international markets.
The Bank began its lending operations from March, 1982. Till June, 1982, it has
extended assistance up to Rs. 133 crores to the export sector in various ways.
The establishment of Exim Bank may be regarded as a right step in the export
promotion policy and programmme of the Government.
During 1984, the Exim Bank sanctioned various programmes of funded assistance of
Rs. 430 crores. It also launched a new programme to provide term finance for exportoriented units, under which assistance was provided through a consortium for
establishing a 100 per cent export unit in the ceramics industry.
The Exim Bank also extended its financial assistance to Indian exports through letters
of credit, re-lending facility, export bills rediscounting, overseas investment finance,
facilities for deemed exports and assistance to hundred per cent export units and units
in free trade zone.
At the end of December 1984, the Exim Banks outstanding underfunded and nonfunded assistance amounted to Rs. 415 crores and Rs. 510 crores, respectively.
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In 1984, the Exim Bank signed a loan agreement to borrow one billion yen from the
Japanese commercial yen market.
In June 1986, the Exim Bank introduced a new programme called the Export
Marketing Fund (EMF), under which finance is made available to Indian companies
for undertaking export marketing activities. The programme also covers activities like
desk research, minor product adaptation, overseas operations and travel to India by
buyers overseas. During 1986, Rs. 78 lakhs were sanctioned, while Rs. 3.4 lakhs have
been utilised under the EMF.
On whole, the Exim Bank concluded an agency credit line of US $ 15 million with the
International Finance Corporation (IFC).
During 1994-95, Exim Bank sanctioned Rs. 2,466 crore and disbursed Rs. 2,130 crore
of financial assistance under various lending project.
Activities of Exim Bank:
The bank can raise additional resources through borrowing from Government of
India, from RBI and from the market through the issue of bonds and debentures.
Exam bank also provides refinance facilities to the commercial bank and financial
institutions against their export-import financing activities.
During the Year ending on 31 March, 2003, Exim Bank sanctioned loans of Rs. 7,828
crores while disbursements amounted to Rs. 5,320 crores, Net Profit (before tax) of
the bank for the period 2002-03 on account of General Fund amounted to Rs. 268
crore.

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CHAPTER 2

AN ORGANISATIONAL ENVIRONMENT CONDUCIVE TO


ACHIEVING EXCELLENCE

Organisational Chart
Board Of Directors
Culture
Financial Highlights

ORGANISATIONAL CHART
Exim Bank is fully owned by the Government of India and is managed by a Board of
Directors with representation from Government, financial institutions, banks, business
community.
The Bank is professionally run with a total staff of 190 who are drawn from six major
streams: commercial and development banking, engineering, economics, accountancy,
computer technology and business school graduates
ORGANISATIONAL CULTURE
Bank offers a congenial and challenging work environment.
Salient features of the work environment are emphasis on office automation, an open
office system, an independent 'doer's' work culture, minimization of hierarchical
constraints in organisational functioning, and multi-disciplinary inputs in decision
making.
Skill upgradation is a continuing process in the Bank. Bank's professionals undergo
training in areas of relevance to the Bank in India and abroad.
The training programmes are chosen and designed to develop technical and
managerial skills in the professionals and an ability to initiate and innovate.

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Size and Nature


In comparison with other organisations with similar asset levels, Exim Bank's staff
strength is lean. As of March, 2005, total personnel in the Bank numbered 193. Highly
automated office systems ensure that personnel are equipped with timely and
complete information and streamlined work processes. The human resources of the
Bank include 139 professionals who are drawn from a variety of backgrounds
embodying various disciplines which are required for the Bank's functions. They
include bankers, business school graduates, chartered accountants, economists,
engineers and computer specialists.
Nature of work
Right from its inception, Exim Bank has attached a great deal of importance to a
congenial and challenging work environment. The objective has been to achieve
excellence in its area of operations, not only in comparison with national
organisations but also in a global context. The bank has a private sector work ethic,
while drawing upon the advantages thrown up by way of its public sector ownership.
An important reason for this has been the relatively young age of the organisation
which enabled the Bank to cast itself in a different mould right from inception without
being saddled with a legacy of outmoded work practices. Some salient features of the
work environment are the emphasis on office automation, an open office system, an
independent "doer's" work culture, minimisation of hierarchical constraints in
organisational functioning, and multi-disciplinary inputs in decision making. Exim
Bank is an officer oriented organisation. Officers work independently and selfsufficiently in all the activities that their job entails. A sense of togetherness and
common purpose is sought to be fostered by the Bank's in-house publication Eximius,
and the annual staff get-together. The Eminent Persons Lecture Series brings persons
who have achieved eminence in diverse fields to interact and share their experience
with officers.
Degree Of Emphasis
Exim Bank operates at the frontier of available office automation and
technology. The Bank believes that human resources should primarily be utilized for
activities that require knowledge, skills, analysis and discretionary choices. An array
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of state-of-the-art computer hardware, software, and telecommunications are available


to the Bank's personnel. Members of the staff make use of these facilities to the fullest
extent feasible not only for non-discretionary activities but also as necessary tools for
optimizing their work output both in terms of quantity and quality. The lean staff
strength makes it possible for the Bank to provide each officer with his/her own
personal computer as well as unlimited access to office automation and technology.
Multi-disciplinary inputs
The complexity of the Bank's functions requires cross-disciplinary inputs for effective
and correct decision-making. Thus, all important decisions are taken with the aid of
inputs from relevant specialists within the Bank. This enables a comprehensive micro
and macro level assessment of risks and rewards. Through this process of collegiate
decision making, team work and inter personal skills are deployed to the fullest extent
so as to make optimum use of the Bank's diverse human resources.
Objective of the Young Professionals Programme
The Young Professionals Programme is the entry-point for a career with Exim Bank.
The Bank requires skills relating to various disciplines e.g. business management,
banking, economics, accountancy and engineering. Prior work experience is neither
expected, nor considered necessary. Right from the very first year, young
professionals will be working independently on challenging assignments. The Young
Professionals Programme offers an exciting and challenging career to those with the
capability and desire to operate at the cutting edge of India's globalisation process.
Long-term career prospects
Except for those positions where highly specialised skills are needed, the Bank does
not normally recruit directly to higher professional positions. Thus, young
professionals who are committed to a long-term career in the bank, can expect to rise
to the upper echelons of the Bank's management in due course of time. Career growth
is determined by performance and merit, based on an objective and structured system
of evaluation. The Bank anticipates a major expansion and diversification of its
activities in the medium and long run, largely because of the opportunities arising
from India's ongoing globalisation efforts. Therefore, young professionals can look
forward to a fruitful career with the Bank.
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Training Programme
Given the complexity of the Bank's operations, as reflected by the many specialised
groups and work-skills, young professionals need to spend time gaining exposure and
knowledge of the various activities and skills utilised in the Bank. This is especially
necessary because efficient decision making in the Bank requires knowledge of a
variety of skills and practices. Working with various groups, young professionals
become fully conversant with all the critical functions and activities. They are also
actively involved in appropriate assignments entailing individual responsibility.
The Bank is unique in its global and national network of institutional and professional
linkages. The five overseas offices - at Washington D.C., Singapore, Budapest,
London and Johannesburg - have helped forge strategic institutional linkages for the
Bank with multilateral agencies such as Multilateral Investment Guarantee Agency,
World Bank, Asian Development Bank, African Development Bank, Export Credit
Agencies, Trade and Investment Promotion Agencies abroad. The Bank's extensive
global network, supported by the Indian Missions abroad facilitates interaction with
such agencies and opens up new opportunities for knowledge building and
upgradation of skills.
Learning opportunities are created for officers by way of participation in seminars and
exhibitions (in India and abroad) sponsored by the Bank, with a view to preparing
them to perform roles / jobs which they may be required to take up in the future as
they go up in the organisational hierarchy, or if the Bank is venturing into new areas
through joint ventures or expansion. State-of-the-art training in highly specialised
areas is furthered by the new initiatives of the Bank, establishing links with
multilateral agencies such as MIGA, IFC Washington and the World Bank. Special
programmes organised in coordination with these agencies are customised to meet the
specific requirements of the Bank.
Salary
During the training period, young professionals are paid a monthly stipend of Rs.
15,000/-. Thereafter, upon absorption as Manager, salaries would correspond to the
scale for this cadre. Currently, gross emoluments at the minimum of the scale amount
to about Rs. 17,900/-. "Dearness Allowance," which constitutes a component of
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salaries, changes at quarterly intervals to reflect movements in the price index.


Therefore, actual salaries in the scales alter periodically.
Perquisites
Apart from the salary, the Bank provides attractive perquisites, the monetary
equivalent of which is considerable, in relation to the salary. A major perquisite which
the Bank endeavours to provide to young professionals is furnished bachelor
accommodation, based on need and subject to availability. Individual rooms in the
Bank's furnished flats with common kitchen and lounge are allotted to young
professionals wherever possible. Until now, all young professionals joining the Bank
have been provided with accommodation. As regards family accommodation, the
Bank can consider the same subject to availability. Another valuable perquisite is the
scheme for reimbursement of fees for the purpose of acquisition of skills considered
useful to the Bank - for instance, computer skills, foreign languages.
THE LEADERSHIP
Since its inception, Exim Bank has had, at the helm of its affairs, leading banking
professionals as Chief Executive Officers. Shri R.C. Shah, a seasoned banker, with
vast commercial and international banking experience, was the first Chairman and
Managing Director of Exim Bank during January 1982-January 1985. His vision
helped the setting up of the institution as a unique organizational model, with a flat,
non-hierarchical culture, multi-disciplinary approach to problem solving, access to the
latest technology and a climate for innovation. He was succeeded by Shri Kalyan
Banerji, who was the Chairman and Managing Director during February 1985-April
1993. Shri Banerji had long years of commercial banking experience, with exposure
to international banking. Ms. Tarjani Vakil took over as the Chairperson and
Managing Director of the Bank in August 1993 and guided the institution in its
endeavors for export capability creation, till October 1996. She was succeeded by Shri
Y.B. Desai, who was the Managing Director of the Bank during August 1997-April
2001. Shri T.C. Venkat Subramanian then took over as Chairman and Managing
Director of Exim Bank in May 2001 and retired in October 2009. Smt. Ravneet Kaur,
then Joint Secretary (IF) Department of Financial Services, Ministry of Finance
headed the institution from November 2009 to March 2010. She was succeeded by
Shri T.C.A. Ranganathan in April 2010 who headed the institution for over 3 years
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and retired in November 2013. After the retirement of Shri Ranganathan, Shri Anurag
Jain, Joint Secretary, Department of Financial Services, Ministry of Finance held the
interim charge of CMD till mid-February. Shri Yaduvendra Mathur, IAS, has joined
Exim Bank as its present Chairman and Managing Director on February 20, 2014.
Prior to his joining Exim Bank, Shri Mathur was the Chairman and Managing
Director, Rajasthan Financial Corporation. He is an Indian Administrative Service
Officer of the 1986 batch and has had long stints in various positions in the Finance
Department including Principal Secretary Finance, Government of Rajasthan. During
his postings under the Department of Economic Affairs (2001-2003) at Cote d'Ivoire
and Tunisia, Shri Mathur had worked as Assistant to the Executive Director
(representing India, Norway, Denmark, Sweden, Finland and Switzerland) of African
Development Bank. He was then actively engaged with the Export-Import Bank of
India in enhancing and promoting business opportunities for Indian companies in the
African continent through Technical Cooperation Agreements.

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CHAPTER 3
FINANCE BY EXIM BANK
EXIM INDIA offers a range of financing programmes that match the menu of
Exim Banks of the industrialised countries. However, the Bank is atypical in the
universe of Exim Banks in that it has over the years evolved, so as to anticipate and
meet the special needs of a developing country.
EXIM INDIA operates a wide range of financing and promotional programmes. The
Bank finances exports of Indian machinery, manufactured goods, consultancy and
technology services on deferred payment terms. EXIM INDIA also seeks to co
finance projects with global and regional development agencies to assist Indian
exporters in their efforts to participate in such overseas projects.
The Bank is involved in promotion of two-way technology transfer through
the outward flow of investment in Indian joint ventures overseas and foreign direct
investment flow into India. EXIM INDIA is also a Partner Institution with European
Union and operates for facilitating promotion of joint ventures in India through
technical and financial collaboration with medium sized firms of the European Union.
FINANCE:
Guidelines on Project & Services Exports

Issued by RBI under Sec. 47 of Foreign Exchange Management Act, 1999


Types of Exports covered :
o Export of Goods on Deferred Payment Terms (e.g. Export of
machinery, equipment, manufactured products)
o Turnkey Projects (e.g. Setting up of Sugar Plant, Cement Plant)
o Construction Projects (e.g. Construction of Roads, Dams, Bridges)
o Consultancy & Technical Services (e.g. Operation & Maintenance
Contracts)
o Collectively referred to as 'PROJECT & SERVICES EXPORTS'

Definition of Deferred Payment Exports

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In terms of Regulation 9 of the Foreign Exchange Management Act 1999, the


amount representing the full export value of goods exported must be realised

and repadriated to India within 6 months of date of export.


Exports where more than 10% of the value is realised beyond the prescribed
period, i.e., 6 months from date of shipment, are treated as Deferred Payment
Exports

FUNDED:
Lines Of Credit:
General Guidelines on Exim Lines of credit:
Introduction:
Exim Bank extends lines of credit to overseas governments/agencies
nominated by them or financial institutions overseas to enable buyers in those
countries to import capital/engineering goods, industrial manufactures and related
services from India on deferred payment terms. This facility enables importers in
those countries to import from India on deferred credit terms as per the terms and
conditions already negotiated between Exim Bank and the overseas agency. The
Indian exporters can obtain payment of eligible value from Exim Bank against
negotiation of shipping documents, without recourse to them.
Features
The lines of credit are denominated in convertible foreign currencies or Indian
Rupees and extended to sovereign governments/agencies nominated by them or
financial institutions. Such governments/agencies/institutions are the borrowers and
Exim Bank the lender. Terms and conditions of different lines of credit are varying
and details in respect of each line of credit can be obtained from Exim Bank. It would
need to be ascertained from time to time that the lines of credit have come into effect
and uncommitted balance is still available for utilization. Indian exporters also need to
ascertain the quantum of service fees payable to Exim Bank on account of pro rata
export credit insurance premium and / or interest rate differential cost that they can
then paid up in their prices to their importers
How it works

The buyer arranges to obtain allocation of funds under the credit line from the
borrower. The exporter then enters into contract with the buyer, for the eligible
items covered under the line of credit. The contracts would need to conform to

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the basic terms and conditions of the respective credit lines. (Particulars of

effective lines of credit are available separately)


The delivery period stipulated in the contracts should be such that credit can
be drawn from Exim Bank within the terminal disbursement date stipulated
under the respective line of credit agreements. Also, all contracts should

provide for pre-shipment inspection by the buyer or agent nominated by buyer.


The buyer arranges to comply with procedural formalities as applicable in his
country and then submits the contract to the borrower for approval. The

borrower in turn forwards copies of the contract to Exim Bank for approval.
Exim Bank advises approval of the contract to the borrower, with copy to
exporter, indicating approval number, eligible contract value, last date for

disbursement, and other conditions subject to which approval is granted.


The Buyer, on advice from the borrower, establishes an irrevocable sight letter
of credit(L/C). A single L/C is to be opened, covering the full eligible value of

the contract including, freight and/or insurance as laid down in the contract.
The letter of credit is advised through a bank in India designated by Exim

Bank.
Exporter ships the goods covered under the contract and presents documents
for negotiation to the designated bank. The Bank forwards negotiated

documents to the buyer.


On receipt of clean non-negotiable set of shipment documents along with the
relative invoices, inspection certificate and a certificate that documents
negotiated are as per terms of L/C and without reserve from the negotiating
bank and after having satisfied itself, that all formalities have been complied
with in conformity with the terms of the Credit Agreement, Exim Bank
reimburses the eligible value of shipment in equivalent rupees at spot

exchange rate to the negotiating bank for payment to the exporter.


Exim Bank debits the borrower's account and arranges to collect interest and
principal receivable on due dates as per the terms of the line of credit
agreement between Exim Bank and the borrower.

It may be noted:

Any bank charges, commission expenses payable in India as also pro-rata


export credit insurance premium and / or interest rate differential cost, as may
be applicable shall be to the account of the exporter. The exporter is advised to

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ascertain from EXIM Bank the amount service fee payable by the exporter,

before entering into commercial contract with the overseas buyer.


Exim Bank will not be liable to pay interest for the period between dates of
negotiation and actual reimbursement from EXIM Bank.

A Variety of LINE OF CREDIT Programmes


1. Particulars of the Line of Credit to Seychelles Marketing Board(SMB),
Seychelles
2. Particulars of the Line of Credit to Vneshtorgbank (Bank For Foreign Trade),
Russian Federation
3. Particulars of the Line of Credit to Banco Bradesco S.A., Brazil
4. Particulars of the Line of Credit to Banco Industrial De Venezuela, C.A.
5. Particulars of the Line of Credit to Banco de Comercio Exterior de Colombia
S.A.
6. Confirmation Of Letters Of Credit(L/C) By Exim Bank Under The Trade
Facilitation Programme Of The European Bank For Reconstruction And
Development (EBRD)
7. Technology Upgradation Fund Scheme for Textile and Jute Industries
SUPPLIER'S CREDIT:
Supplier's Credit for deferred payment exports
What is on offer?
Exim Bank offers Supplier's Credit in Rupees or in Foreign Currency at postshipment stage to finance export of eligible goods and services on deferred payment
terms. Supplier's Credit is available both for supply contracts as well as project
exports; the latter includes construction, turnkey or consultancy contracts undertaken
overseas.
Who can seek finance?
Exporters can seek Supplier's Credit in Rupees/ Foreign Currency from Exim
Bank in respect of export contracts on deferred payment terms irrespective of value of
export contracts.
What are the general terms of Supplier's Credit?
a. Extent of Supplier's Credit
100% of post-shipment credit extended by exporter to overseas buyer.
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b. Currency of Credit
Supplier's Credit from Exim Bank is available in Indian Rupees or in Foreign
Currency.
c. Rate of Interest
The rate of interest for Supplier's Credit in Rupees is a fixed rate and is
available on request. Supplier's Credit in Foreign Currency is offered by Exim
Bank on a floating rate basis at a margin over LIBOR dependent upon cost of
funds.
d. Security
Adequate security by way of acceptable letter of credit and/or guarantee from
a bank in the country of import or any third country is necessary, as per RBI
guidelines.
e. Period of Credit and Repayment
Period of credit is determined for each proposal having regard to the value of
contract, nature of goods covered, security, competition. Repayment period for
Supplier's Credit facility is fixed coinciding with the repayment of postshipment credit extended by Indian exporter to overseas buyer. However, the
Indian exporter will repay the credit to Exim Bank as per agreed repayment
schedule, irrespective of whether or not the overseas buyer has paid the Indian
exporter.

Utilization of Credit
Exim Bank enters into Supplier's Credit Agreement with Indian exporter as also with
exporter's commercial bank in the event of the latter's participation in the Supplier's
Credit. The Agreement covers details of draw-down, repayment, and includes an
affirmation by Indian exporter that repayment to Exim Bank would be made on due
date, regardless of whether due payments have or have not been received from
overseas buyer.
i.

ii.

Negotiation of Documents
Commercial bank negotiates export documents and seeks reimbursement of
Supplier's Credit amount.
Supplier's Credit Claims
Commercial bank seeks reimbursement of Supplier's Credit from Exam Bank
along with

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a.

Annexure containing particulars of shipment/s made (drawal form and


Annexure format are provided to banks at the time of issue of

b.

sanction).
Copies of shipping documents. On satisfying itself that the
disbursement claim is in order, Exim Bank either credits the amount in
Rupees under Rupee Supplier's Credit into the account of the
commercial bank, maintained with Reserve Bank of India (RBI) at
Mumbai, or the commercial bank's Nostro Account under Foreign
currency Supplier's Credit and advises details of the amount credited to

bank/exporter.
Repayment of Supplier's Credit
The exporter repays principal amount of credit to Exim Bank as per agreed

iii.

repayment schedule. Interest amounts are payable to Exim Bank half-yearly


without any moratorium.
Supplier's Credit [Regulatory Norms] - Supply/Turnkey/Construction
RBI has laid down guidelines for project exports and export of goods from
India on deferred payment terms. RBI's guidelines relating to Project Export
contracts are contained in Memorandum PEM published by RBI. It is a priced
publication and available at any of the Regional Offices of RBI throughout
India
Overseas Buyer's Credit:

This is offered directly to foreign importers for the import of Indian capital
goods and relative services with repayment terms spread over a period of

years.
Loan under FREPEC Programme: Financing Rupee Expenditure for Project
Export Contracts

About FREPEC - Finance Rupee Expenditure for Project Export Contracts


This programme seeks to Finance Rupee Expenditure for Project Export
Contracts, incurred by Indian companies.
Purpose
To enable Indian project exporters to meet Rupee expenditure incurred/required to
be incurred for execution of overseas project export contracts such as for
mobilisation/purchase/acquisition of materials and equipment, mobilisation of

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personnel, payments to be made in India to staff, sub-contractors, consultants and to


meet project related overheads in Indian Rupees.

Pre-Shipment Rupee Credit


Pre-shipment Rupee Credit is extended to finance temporary funding
requirement of export contracts. This facility enables provision of rupee
mobilisation expenses for construction/ turnkey projects. Exporters could also
avail of pre-shipment credit in foreign currencies to finance cost of imported
inputs for manufacture of export products to be supplied under the projects.
Commercial banks also extend this facility for definite periods.

Pre-Shipment Finance
An application for pre-shipment advance should be made by you to your banker along
with the following documents:
Confirmed export order/contract or L/C etc. in original. Where it is not
available, an undertaking to the effect that the same will be produced to the
bank within a reasonable time for verification and endorsement should be

given.
An undertaking that the advance will be utilised for the specific purpose of
procuring/manufacturing/shipping etc., of the goods meant for export only, as

stated in the relative confirmed export order or the L/C.


If you are a sub-supplier and want to supply the goods to the
Export/Trading/Star Trading House or Merchant Exporter, an undertaking
from the Merchant Exporter or Export/Trading/Star Trading House stating that
they have not/will 7 3 not avail themselves of packing credit facility against
the same transaction for the same purpose till the original packing credit is

liquidated.
Copies of Income Tax/Wealth Tax assessment Order for the last 2-3 years in

the case of sole proprietary and partnership firm.


Copy of Exporter's Code Number (CNX).
Copy of a valid RCMC (Registration-cum-Membership Certificate) held by

you and/or the Export/Trading/Star Trading House Certificate.


Appropriate policy/guarantee of the ECGC.
Any other document required by the Bank. For encouraging exports, R.B.I.
has instructed the banks to grant preshipment advance at a concessional rate of
interest. The present rate of interest is 10% p.a. for pre-shipment advance upto
an initial period of 180 days. Pre-shipment advance for a further period of 90

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days is given at the concessional rate of 13% p.a. Banks are free to determine
the interest rate for advances beyond 270 days and upto 360 days.
Following special schemes are also available in respect of pre-shipment finance:
Exim Bank's scheme for grant of foreign currency pre-shipment credit to
exporters for financing cost of imported inputs for manufacture of export

products.
Scheme of export packing credit to sub-suppliers from export order.
Packing credit for deemed exports.
Pre-shipment Credit in Foreign Currency (PCFC). For further details refer to
Nabhi's "How to Borrow from Financial and Banking Institutions".

Post Shipment Finance


Post-shipment finance is the finance provided against shipping documents. It is also
provided against duty drawback claims. It is provided in the following forms:
o

Purchase of Export Documents drawn under Export Order: Purchase or


discount facilities in respect of export bills drawn under confirmed export
order are generally granted to the customers who are enjoying Bill
Purchase/Discounting limits from the Bank. As in case of purchase or
discounting of export documents drawn under export order, the security
offered under L/C by way of substitution of credit-worthiness of the buyer by
the issuing bank is not available, the bank financing is totally dependent upon
the credit worthiness of the buyer, i.e. the importer, as well as that of the
exporter or the beneficiary. The documents dawn on DP basis are parted with
through foreign correspondent only when payment is received while in case of
DA bills documents (including that of title to the goods) are passed on to the
overseas importer against the acceptance of the draft to make payment on
maturity. DA bills are thus unsecured. The bank financing against export bills
is open to the risk of non-payment. Banks, in order to enhance security,
generally opt for ECGC policies and guarantees which are issued in favor of
the exporter/banks to protect their interest on percentage basis in case of nonpayment or delayed payment which is not on account of mischief, mistake or
negligence on the part of exporter. Within the total limit of policy issued to the
customer, drawee-wise limits are generally fixed for individual customers. At
the time of purchasing the bill bank has to ascertain that this drawee limit is

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not exceeded so as to make the bank ineligible for claim in case of nonpayment.
o

Advances against Export Bills Sent on Collection: It may sometimes be


possible to avail advance against export bills sent on collection. In such cases
the export bills are sent by the bank on collection basis as against their
purchase/discounting by the bank. Advance against such bills is granted by
way of a 'separate loan' usually termed as 'post-shipment loan'.

This facility is, in fact, another form of post- shipment advance and is
sanctioned by the bank on the same terms and conditions as applicable to the
facility of Negotiation/Purchase/Discount of export bills. A margin of 10 to
25% is, however, stipulated in such cases. The rates of interest etc., chargeable
on this facility are also governed by the same rules. This type of facility is,
however, not very popular and most of the advances against export bills are
made by the bank by way of negotiation/purchase/discount.
o

Advance against Goods Sent on Consignment Basis: When the goods are
exported on consignment basis at the risk of the exporter for sale and eventual
remittance of sale proceeds to him by the agent/consignee, bank may finance
against such transaction subject to the customer enjoying specific limit to that
effect. However, the bank should ensure while forwarding shipping documents
to its overseas branch/correspondent to instruct the latter to deliver the
document only against Trust Receipt/Undertaking to deliver the sale proceeds
by specified date, which should be within the prescribed date even if
according to the practice in certain trades a bill for part of the estimated value
is drawn in advance against the exports.

Advance against Undrawn Balance: In certain lines of export it is the trade


practice that bills are not to be drawn for the full invoice value of the goods
but to leave small part undrawn for payment after adjustment due to difference
in rates, weight, quality etc. to be ascertained after approval and inspection of
the goods. Banks do finance against the undrawn balance if undrawn balance
is in conformity with the normal level of balance left undrawn in the particular
line of export subject to a maximum of 10% of the value of export and an

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undertaking is obtained from the exporter that he will, within 6 months from
due date of payment or the date of shipment of the goods, whichever is earlier
surrender balance proceeds of the shipment. Against the specific prior
approval from Reserve Bank of India the percentage of undrawn balance can
be enhanced by the exporter and the finance can be made available
accordingly at higher rate. Since the actual amount to be realised out of the
undrawn balance, may be less than the undrawn balance, it is necessary to
keep a margin on such advance.
o

Advance against Retention Money: Banks also grant advances against


retention money, which is payable within one year from the date of shipment,
at a concessional rate of interest up to 90 days. If such advances extend
beyond one year, they are treated as deferred payment advances which are also
eligible for concessional rate of interest.

Advances against Claims of Duty Drawback: Duty Drawback is permitted


against exports of different categories of goods under the 'Customs and
Central Excise Duty Drawback Rules, 1995'. Drawback in relation to goods
manufactured in India and exported means a rebate of duties chargeable on
any imported materials or excisable materials used in manufacture of such
goods in India or rebate on excise duty chargeable under Central Excises Act,
1944 on certain specified goods. The Duty Drawback Scheme is administered
by Directorate of Duty Drawback in the Ministry of Finance. The claims of
duty drawback are settled by Custom House at the rates determined and
notified by the Directorate. As per the present procedure, no separate claim of
duty drawback is to be filed by the exporter. A copy of the shipping bill
presented by the exporter at the time of making shipment of goods serves the
purpose of claim of duty drawback as well. This claim is provisionally
accepted by the customs at the time of shipment and the shipping bill is duly
verified. The claim is settled by customs office later. As a further incentive to
exporters, Customs Houses at Delhi, Mumbai, Calcutta, Chennai, Chandigarh,
Hyderabad have evolved a simplified procedure under which claims of duty
drawback are settled immediately after shipment and no funds of exporter are
blocked. However, where settlement is not possible under the simplified

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procedure exporters may obtain advances against claims of duty drawback as


provisionally certified by customs.

Negotiation of Export documents Drawn under L/C: This aspect has been
discussed in the chapter on Special Care for negotiation of Export Documents
under Letter of Credit.

Refinance of Export Loans


Authorised Dealers in foreign exchange can obtain from Exim Bank, hundred
percent refinance of deferred payment loans extended for export of eligible Indian

goods.
Forfeiting

Forfeiting is a mechanism of financing exports.

by discounting export receivables


evidenced by bills of exchange or promissory notes
without recourse to the seller (viz. exporter)
carrying medium to long term maturities
on a fixed rate basis (discount)
upto 100 percent of the contract value.

The word `forfeit' is derived from the French word `a forfait' which means the
surrender of rights.
Simply put, forfeiting is the non-recourse discounting of export receivables. In a
forfeiting transaction, the exporter surrenders, without recourse to him, his rights to
claim for payment on goods delivered to an importer, in return for immediate cash
payment from a forfaiter. As a result, an exporter in India can convert a credit sale into
a cash sale, with no recourse to the exporter or his banker.

Non-Funded
Exim Bank issues following guarantees directly or in participation with other
banks, for project export contract.
Bid Bond
Bid Bond is generally issued for a period of six months.

Advance Payment Guarantee

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Exporters are expected to secure a mobilisation advance of 10-20% of the


contract value which is normally released against bank guarantee and is
generally recovered on a pro-rata basis from the progress payments during
project execution.

Performance Guarantee
Performance guarantee for 5-10% of contract is issued, valid upto completion
of maintenance period normally one year after completion of contract period
and/or grant of Final Acceptance Certificate (FAC) by the overseas employer.
Format of guarantee is expected to be furnished by exporter, at least four
weeks before actual issue, to facilitate discussions and formal approval.
Guarantee for Release of Retention Money:
This enables the exporter to obtain the release of retention money (normally
10% of contract value) before obtaining Final Acceptance Certificate (FAC)
from client.
Guarantee for Raising Borrowings Overseas
Bridge finance may be needed at the earlier phases of the contracts to
supplement the mobilisation advance. Bridge finance upto 25% of the contract
value may be raised in foreign currency from an overseas bank against this
guarantee issued by a bank in India. Request for overseas borrowings must be
supported by currency-wise cash flows, also indicating the outstanding letters
of credit and L/C drawal schedule
Other Guarantees
e.g. in lieu of customs duty or security deposit for expatriate labour.

Guarantee commission is charged at rates stipulated by the Foreign


Exchange Dealers Association of India (FEDAI) or as stepulated by guarantee
issuing bank. Margin requirement for issue of guarantee is generally waived
by banks for Export Performance Guarantee. However, appropriate securities
are availed of.
Export Capability Creation Programmes

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Lending Programme for Export Oriented Units


Production Equipment Finance Programme
Technology Upgradation Fund Scheme for Textile and Jute Industries
Overseas Investment Finance Programme
Equity Investment in Indian Ventures Abroad
Asian Countries Investment Partners Programme
Export Marketing Finance Programme
Export Product Development Programme
Export Vendor Development Programme
Programme for Export Facilitation
o Port Development
o Software Training Institutes
Foreign Currency Pre-shipment Credit
Working Capital Term Loan Programme for Export Oriented Units
Bulk Import Finance
Finance for Research & Development for Export Oriented Units
Long Term Working Capital

Import Finance

CHAPTER 4
SERVICES RENDERED BY EXIM BANK

EXPORT SERVICES
ADVISORY SERVICES
MULTILATERAL AGENCIES FUNDED PROJECTS OVERSEAS (MFPO)
Services
Information and support services to Indian companies to help improve their
prospects for securing business in multilateral agencies funded projects.

Dissemination of business opportunities in funded projects


Providing detailed information on projects of interest
Information on Procurement Guidelines, Policies, Practices of

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Multilateral Agencies
Assistance for Registration with Multilateral Agencies
Advising Indian companies on preparation of Expression of Interest,

Capability Profile
Bid Intervention

PROMOTING INDIAN CONSULTANCY


Tie-up with

International Finance Corporation, Washington D.C.


o Africa Project Development Facility
o Africa Enterprise Fund
o Technical Assistance & Trust Funds
o Mekong Project Development Facility
Eastern & Southern African Trade & Development Bank (PTA Bank)
African Management Services Company (AMSCO), Netherlands

EXIM BANK AS A CONSULTANT

Feasibility study for establishment of an export credit and guarantee facility

for Gulf Cooperation Council countries.


Regional cooperation in export finance and export credit guarantees for

ESCAP.
Study on promotion of international competitiveness and exports of

manufactured goods for ESCAP.


Setting up the Afrexim Bank
Designing of Export Financing Programmes - Turkey
Setting up an Exim Bank in Malaysia
Design of Export Marketing Seminars for SMEs in Vietnam
Export Development Project : Ukraine
Enterprise Support Fund : Armenia
Establishing an Export Credit Guarantee Company in Zimbabwe
Advisory services to Industrial Development Corporation of South Africa for
international finance products

PROMOTIONAL PROGRAMMES
Project Preparatory Services Overseas Programme
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Set up in 1987 to promote Indian consultancy at preparatory stages in projects


overseas with potential of Multilateral Funding and downstream linkages for

Indian exports.
Eligible Costs
Project feasibility studies, project formulation and related advisory services
Examples
o Railway Sector Study - Vietnam * Thermal Power - Macedonia
o Road Rehabilitation - Uzbekistan * Agriculture - Egypt

CHAPTER 5
EXIM BANK'S ROLE IN PROMOTING INTERNATIONAL
TRADE
Export-Import Bank of India (Exim Bonk, In short) is a wholly cerement-owned
financial institution, set up for the purpose of financing, facilitating and promoting
Indian's 'foreign trade. Exim Bank plays a four-pronged role with 'regard to India's
foreign trade: those of a coordinator, a source of finance, consultant and promoter.
Exim Bank offers a diverse range of financing services for the Indian exporter,
including a variety of Export Credit Facilities and Finance for Export Oriented
Companies. Exim Bank's mission is to facilitate globalisation of Indian business.
The Bank, set up in 1982, is the principal financial institution in the country for coordinating working of institutions engaged in financing exports and imports.
The Bank offers a range of financing programmes that match the menu of Exim
Banks of the industrialized countries. However, the Bank is atypical in the universe of
Exim Banks in that it has over the years evolved, so as to anticipate and meet the
special needs of a developing country. The Bank provides competitive finance at
various stages of the export cycle.
The Bank finances exports of Indian machinery, manufactured goods, consultancy and
technology services on deferred payment terms. It also seeks to co-finance projects
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with global and regional development agencies to assist Indian exporters in their
efforts to participate in such overseas projects.
The Bank is involved in promotion of two-way technology transfer through the
outward flow of investment in Indian joint ventures overseas and foreign direct
investment flow into India. It is also a Partner Institution with European Union and
operates for facilitating promotion of joint ventures in India through technical and
financial collaboration with medium sized firms of the European Union.
Mr. Prabhakar R Dalal spoke on Exim Bank's role in promoting International Trade.
Mr. Dalai, General Manager & Group Head, Lines of Credit Group, Exim Bank of
India, is M.Com, LL.B, C.A.I.1.8., PGDFERM. He is Fellow of the Indian Institute of
Bonking & Finance (FIIBF); Director, West African Development Bank (BOAD),
Togo.AIt., Director, Zambia Development Bank, Lusaka, Zambia; and Member of
Committees of International Chamber of Commerce & Bombay Chamber of
Commerce & Industry. He has travelled extensively abroad as part of Government
delegations/Exim Bank delegations, addressed seminars and conferences in India and
abroad, met with ministers, senior officials from banking, trade and industry sectors
overseas and signed agreements with them, and worked as Exim Bank's Resident
Representative in Africa for 4 years.
Deferred payment terms, It also seeks to co-finance projects with global and regional
development agencies to assist Indian exporters in their efforts to participate in such
overseas projects.
The Bank is involved in promotion of two-way technology transfer through the
outward flow of investment in Indian joint ventures overseas and foreign direct
investment flow into India. It is also a Partner Institution with European Union and
operates for facilitating promotion of joint ventures in India through technical and
financial collaboration with medium sized firms of the European Union.

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CHAPTER 6
CONCLUSION
Many economists argued that EXIM Bank sector represented the new
beginning of the international capitalism. They traced the evolution of the EXIM
Bank sector to the development of transnational corporations. In this context the
evolution of the international banking came as a response to the modern phenomenon
of capital which obviously goes beyond national borders. At the same time the rapid
growth and boom of the technology sector gave a great incentive and facilitated the
creation of the international EXIM Bank area. This permitted global access of world
market information and subsequently its management and control.
Under the traditional national and international sectors there were several
constraints which gave the possibility for offshore activity to grow. These are: the
extension of national tax bases; intermittent fiscal and monetary instabilities; the
existence of foreign exchange controls and fluctuations; limiting cross-border
controls; conservative banking laws and regulations with regard to foreign and
domestic industrial entry, systems of supervision and liquidity requirements,
constraints on the issue of foreign and domestic bonds, the admission of securities to
capital markets, stock exchange, insurance regulations ; company laws which
restricted business.
Also it has to be mentioned from the international perspective there was a lack
of coherent set of international fiscal principles and laws in which transnational
company could operate across border.
The evolution of the EXIM Bank center is described from the perspective of
its tax and banking functions. More recently, however, other constraints onshore have
served as an incentive element which pushed for offshore investment and have
emphasized the importance of that investment. These include: the need to provide for
what is seen as the vulnerability of professionals and investors to creditors; the desire
to avoid onshore laws and regulations which mandate the reservation of assets to
spouses and heirs; the need for savings and investment vehicle for ordinary persons.

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EXIM Bank center came with innovative solutions to all these constraints that
were mentioned above. Let us refer for example to taxation. There are 3 models of
EXIM Bank centers from the perspective of taxation: with zero-tax (here even
residents do not pay taxes); with low-tax; tax at normal rates but exemption or other
preferential treatment is granted to non-resident investors or investment for certain
categories of income.
Notwithstanding the fact that the above categories refers only to tax aspects of
EXIM Bank activity, it clearly shows the scope of such centers.
Developing countries like India concentrates more on increasing the value and
volume of the export turnover to attain economic developments to provide
employment opportunities to utilize all the available resources and to finance for
exports. But the export sector involves high amount of risk. The Indian exporters have
to be protected from several types of risks involved in export business. Here EXIM
bank plays vital role. By improving the performance of export, bank is in better
position to extend its services to all types of exporters effectively.
EXIM banking of course, extends beyond international banking which in its narrow
sense relates to delivery of trade products and services to business and trade
Customers. Thus, The EXIM bank of India is regarded as the drivers behind global
trade and corporate globalization

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BIBLIOGRAPHY
http://en.wikipedia.org/wiki/Exim_Bank_(India)
http://www.eximbankindia.in/board-of-directors
http://siteresources.worldbank.org/CSO/Resources/AM_2006Agrawal.PPT
http://www.ipmma.org/articles4.html
http://www.yourarticlelibrary.com/banking/export-import-bank-of-india-objectivesand-functions/24815/
http://www.yourarticlelibrary.com/banking/export-import-bank-of-india-managementfunctions-and-activities-of-exim-bank/23505/

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