A step to lend exporters more!
Authorised capital of EXIM Bank to grow 100% Government approves the recapitalization of EXIM Bank of India The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the recapitalization of EXIM Bank. The details are, i: Issuance of Recapitalization Bonds by Government of India to the tune of Rs.6,000 crore for capital infusion in Export Import Bank of India (Exim Bank). ii: The equity will be infused in two tranches of Rs. 4,500 crore in FY 2018-19 and Rs.1,500 crore in FY 2019-20 respectively. iii: The Cabinet also approved an increase in the authorized capital of Exim Bank from Rs. 10,000 crore to Rs. 20,000 crore. The recapitalisation bonds will be on the lines issued to Public Sector Banks. Major Impact is being expected that the Exim Bank is the principal export credit agency for India. The infusion of capital into Exim Bank will enable it to augment ca...