CURRENT AFFAIRS

Detailed explanation-1: -The Export Import Bank (EXIM) of India and the Government of Sri Lanka on Wednesday signed a $500- million Line of Credit agreement aimed at helping Sri Lanka cope with its current fuel shortages, amid one of the worst economic meltdowns facing the island nation.

Detailed explanation-2: -Exim Bank (Bangladesh), one of the leading private commercial banks in Bangladesh. Exim Bank (Comoros), a commercial bank in the Comoros. Exim Bank (Djibouti), a commercial bank in Djibouti. Exim Bank (India), a finance institution in India, established in 1982 under Export-Import Bank of India Act 1981.

Detailed explanation-3: -Exim Bank serves as a growth engine for industries and SMEs through a wide range of products and services. This includes import of technology and export product development, export production, export marketing, pre-shipment and post-shipment and overseas investment.

Detailed explanation-4: -The correct answer is to promote exports and curtail imports. The Export-Import Bank of India, commonly known as the EXIM bank, was set up on January 1, 1982, to provide financial assistance to exporters and importers to promote India’s foreign trade.

Detailed explanation-5: -Export-Import Bank of India (Exim Bank), set up under an Act of Parliament, is the apex financial institution engaged in financing, facilitating and promoting India’s International trade and investment. Established in 1982, Export-Import Bank of India is a wholly owned Govt. of India entity.