BANKING AFFAIRS

Detailed explanation-1: -Export-Import Bank of India was thus born after two decades of debate on the need for a specialized export credit agency for India and the role of international trade in India’s economic development. The Export-Import Bank of India Act was passed in September 1981 and the Bank commenced its operations in March 1982.

Detailed explanation-2: -Exim Bank was established by the Government of India, under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies.

Detailed explanation-3: -The Export-Import Bank of India (Amendment) Bill, 2011 was introduced in the Lok Sabha on December 8, 2011 by the Minister of Finance, Mr.

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);