ENTREPRENEURSHIP

INNOVATION AND CREATIVITY

INNOVATION IN ENTREPRENEURSHIP

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which bank is a specialized financial institution for financing, facilitating and promoting foreign trade of India?
A
EXIM Bank
B
SIDBI
C
AXIS Bank
D
IDBI
Explanation: 

Detailed explanation-1: -Export-Import Bank of India (Exim Bank) operates a comprehensive range of financing, advisory and support programmes to promote and facilitate India’s trade and investment with the CIS countries.

Detailed explanation-2: -We are a specialized financial institution wholly owned by the Government of India with presence in Indian and foreign cities around the world. We were set up in 1982, for the purpose of financing, facilitating and promoting India’s international trade.

Detailed explanation-3: -Export-Import Bank of India (EXIM Bank) is a specialized financial institution, wholly owned by Government of India, set up in 1982, for financing, facilitating and promoting foreign trade of India.

Detailed explanation-4: -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-5: -We provide working capital finance by way of pre-shipment credit and post-shipment credit. We also extend non-fund based limits including issuance of Letters of Credit (both foreign & inland) and Bank Guarantees (both foreign & inland) as part of our export credit assistance to clients.

There is 1 question to complete.