Exim Bank of India

Last updated

Export Import Bank of India
Company type Public
IndustryBanking
Founded1 January March 1982 (March 1982 -01-01)(introduced)

7 April 1982 (1982 -04-07)(received assent of President of India)

Contents

(under the Export-Import Bank of India Act, 1981)
Founder Government of India
Headquarters Mumbai, India
Area served
9 branches in India(November 2022)
Key people
ServicesBanking
Financial services
Number of employees
540 (2021)
Subsidiaries
  • Exim Finserve IFSC [1]
  • Export-Import Bank of India, Asset Management Arm
  • Export Import Bank of India, London Branch (2006) [2] [3]
Website www.eximbankindia.in OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[4]

The Export-Import Bank of India (Exim Bank) is a specialized financial institution in India that was established in 1982. The bank's primary function is to finance, facilitate and promote India's international trade. It is owned by the Government of India and operates as a statutory corporation. Its operations are governed by the Export-Import Bank of India Act, 1981. [5] [6]

Exim Bank provides a wide range of financial services to Indian exporters and importers. These services include export credit, pre-shipment credit, post-shipment credit, and overseas investment finance. The bank also provides a range of advisory and support services to Indian businesses looking to expand their international operations. In addition to its domestic operations, Exim Bank has a strong presence in the international market. It has established partnerships and collaborations with other international development banks and financial institutions to support trade and investment flows between India and other countries. [5] [7]

History

The Export-Import Bank of India (Exim Bank) was founded by the Government of India under the Export-Import Bank of India Act, 1981, which was introduced in the Indian Parliament by the then Finance Minister, Shri Pranab Mukherjee. The act was passed by both houses of parliament and received the assent of the President of India on 7 April 1982. The first chairman and managing director of Exim Bank was Shri R.S. Rathore. [5] [8] [9] [10] [11] [12]

Chronology

Organisation structure

The Export-Import Bank of India (Exim Bank) has a well-defined organizational structure consisting of several departments and functional units that work together to achieve the bank's objectives. [5]

Management

Exim Bank of India's management: [26]

DesignationName
Managing DirectorHarsha Bangari
Deputy Managing Director N. Ramesh
Chief General ManagersMukul Sarkar, David Sinate, Prahalathan Iyer, Rima Marphatia, Manjiri Bhalerao, Deepali Agrawal, Tarun Sharma, Gaurav Bhandari, Utpal Gokhale, Vikramaditya Ugra
General Managers Meena Verma, Dharmendra Sachan, Shilpa Waghmare, Uday Shinde, Lokesh Kumar, Rikesh Chand, Nirmit Ved, Meghana Joglekar, Priti Thomas, Manish Joshi, Ambrish Bhandari

Loans and investments

LOCs given by the exim bank of India: [27]

In March 2008, the bank provided a credit of 100 million dollars to finance a road construction project and the construction of electrical infrastructure for the government of Nepal. [28]

In February 2019, the bank provided a credit of 200 million dollars to finance a project in the field of housing and infrastructure to the government of Uzbekistan. [29]

In March 2019, the bank provided a credit of 83 million dollars to finance a project in the field of solar energy in the Democratic Republic of Congo. [30]

In March 2019, the bank provided a credit of 800 million dollars to finance projects in the Republic of Maldives. [31]

In August 2019, the bank provided a credit of 38 million dollars for an industrial project, in the field of water systems, to the Republic of Mozambique. [32]

In October 2019, the bank provided a credit of 30 million dollars to the Republic of Sierra Leone. [33] [34]

In November 2019, the bank provided a credit of 30 million dollars for a project to improve the fresh water infrastructure in Ghana [35] [36]

In January 2020, the bank provided a credit of 75 million dollars to finance a project in the field of solar energy in Cuba. [37]

Key people

Key people associated with the Export-Import Bank of India (Exim Bank) and their roles: [38]

Board of Directors [38]
PositionName
Chairman and Managing DirectorMs. Harsha Bangari
Deputy Managing Director Shri N. Ramesh
Secretary (ER), Ministry of External Affairs Shri Dammu Ravi
Additional Secretary, Department of Economic Affairs, Ministry of Finance Shri Rajat Kumar Mishra
Additional Secretary, Department of Financial Services, Ministry of Finance Shri Suchindra Misra
Joint Secretary, Department of Commerce, Ministry of Commerce & Industry Shri Vipul Bansal
Executive Director, Reserve Bank of India Shri R. Subramanian
Chairman-cum-Managing Director, ECGC Ltd.Shri M. Senthilnathan
Managing Director & CEO, IDBI Bank Ltd Shri Rakesh Sharma
Chairman, State Bank of India Shri Dinesh Kumar Khara
Managing Director & CEO, Bank of Maharashtra Shri A.S. Rajeev
Managing Director & CEO, Central Bank of India Shri Matam Venkata Rao
Non Official DirectorShri Ashok Kumar Gupta

Past Chief Executives

Sr. No. [5] Chief Executives of Exim BankTenure
1Shri. R.C. Shah1982 - 1985
2Shri. Kalyan Banerji1985 - 1993
3Ms. Tarjani Vakil1993 - 1996
4Shri. Y.B. Desai1997 - 2001
5Shri. T.C. Venkat Subramanian2001 - 2009
6Smt. Ravneet Kaur (additional charge)2009 - 2010
7Shri. T.C. A. Ranganathan2010 - 2013
8Shri. Anurag Jain (additional charge)2013 - 2014
9Shri. Yaduvendra Mathur2014 - 2017
10Shri. David Rasquinha2017 - 2021
11Ms. Harsha Bangari2021–Present

Branches

The Export-Import Bank of India (Exim Bank) has its headquarters in Mumbai, Maharashtra, India. Apart from the headquarters, Exim Bank has several branches and overseas offices to cater to the needs of Indian exporters and importers. Here are the details of Exim Bank's branches and offices: [39] [40]

  1. Domestic Branches: Exim Bank has 9 domestic offices located in Mumbai, Delhi, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad, Pune, and Guwahati.
  2. Overseas Offices: Exim Bank has 8 overseas offices located in Washington D.C. (USA), London (UK), Johannesburg (South Africa), Singapore, Tokyo (Japan), Beijing (China), Dhaka (Bangladesh), and Yangon (Myanmar).
  3. Representative Offices: Exim Bank also has representative offices in various countries to promote and facilitate India's trade relations with those countries. These representative offices are located in Abu Dhabi (UAE), Accra (Ghana), Addis Ababa (Ethiopia), Colombo (Sri Lanka), Dubai (UAE), and Istanbul (Turkey).

Subsidiaries

The Export-Import Bank of India (Exim Bank) has two subsidiaries. [11] [7]

  1. Exim Bank Asset Management Company Ltd. (EBAMC): It was incorporated in 2015 and is headquartered in Mumbai, India. EBAMC is a wholly-owned subsidiary of Exim Bank of India and is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund (AIF). The company manages funds in the areas of infrastructure, private equity, and other alternative asset classes.
  2. Export Import Bank of India, London Branch: It is a subsidiary of Exim Bank of India and operates as Exim Bank's London branch. The London branch was established in 2006 and is located in London, UK. It provides a range of financial services to customers in the UK, Europe, and other countries. The services offered by Export Import Bank of India, London Branch include trade finance, project finance, corporate lending, and advisory services. [14] [2] [3]
  3. Exim Finserve IFSC Pvt Ltd.: It was incorporated in 2023 in International Financial Services Centre, GIFT City, Gujarat. [1]

Functions and responsibilities

The Export-Import Bank of India (Exim Bank) has been established with the aim of promoting and financing India's international trade. Here are the main functions and responsibilities of Exim Bank: [9] [8] [10]

See also

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References

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