GK
IMPORTANT ABBREVIATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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External Investment Mode
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Export Import Bank of India
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Exclusive Monthly Installment
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Extra Premium Insurance Made
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Detailed explanation-1: -Export-Import Bank of India (EXIM Bank)
Detailed explanation-2: -Export Import Policy or better known as Exim Policy is a set of guidelines and instructions related to the import and export of goods. The Government of India notifies the Exim Policy for a period of five years (1997 2002) under Section 5 of the Foreign Trade (Development and Regulation Act), 1992.
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 foreign exporter delivers the goods to the importer. The importer (the bank’s customer) requests financing from their bank so that it can pay the foreign exporter. The importer’s bank pays the foreign exporter. When it expires, the importer (bank customer) repays the financing with the proceeds of the sales.