BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Punjab National Bank
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State Bank of India
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Export Credit Guarantee Corporation of India
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Export-Import Bank of India
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Detailed explanation-1: -EXIM Bank or Export-Import Bank of India is India’s leading export financing institute that engages in integrating foreign trade and investment with the country’s economic growth.
Detailed explanation-2: -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-3: -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-4: -Exim Bank extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import developmental and infrastructure projects, equipment, goods and services from India, on deferred credit terms.