BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$ 10 million
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$ 30 million
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$ 20 million
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$ 50 million
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Detailed explanation-1: -MUMBAI : Export-Import Bank of India (Exim Bank) on Thursday said it has, on behalf of the government of India, extended a line of credit of $500 million to the government of the socialist republic of Sri Lanka for financing purchase of petroleum products. The agreement to this effect, was signed by S. R.
Detailed explanation-2: -A Line of Credit is a financing mechanism through which Exim Bank extends support for export of projects, equipment, goods and services from India. Exim Bank extends LOCs on its own and also with the support of Government of India.
Detailed explanation-3: -Exim Bank’s own commercial Lines of Credit Our LOCs are typically linked to LIBOR rates and carry a tenor up to seven years.
Detailed explanation-4: -(iii) ‘EXIM Bank’ means the Export-Import Bank of India established under the Export-Import Bank of India Act, 1981 (28 of 1981);