BANKING AFFAIRS

Detailed explanation-1: -Exim Bank extends Lines of Credit (LOCs) to overseas governments, financial institutions, regional banks and other overseas entities, to finance India’s exports to those countries. Exim Bank’s LOC is a risk-free, non-recourse export financing option available to Indian exporters for promoting their exports.

Detailed explanation-2: -EXIM Bank provides financial assistance to exporters and importers. It functions as the principal financial institution for coordination the work of institutions engaged in financing export and import of goods and services with a view to promoting the country’s international trade.

Detailed explanation-3: -The role of EXIM Bank are as follows; Financial export and import of services and goods from the country as exim trade. It helps in financing the export as well as import of machines. It also helps to refinance the bank services as well as other institutions for foreign financing trade or exim trade.

Detailed explanation-4: -The main function of the Export and Import Bank of India is to provide financial and other assistance to importers and exporters of the country. And it oversees and coordinates the working of other institutions that work in the import-export sector.