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Cabinet nods ex-post-facto approval to capital infusion made in Export Import Bank of India

India Blooms News Service | | Sep 09, 2015, at 09:54 pm

#Export Import Bank of India # Cabinet # Export Import Bank of India

New Delhi, Sept 9 (IBNS) The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday gave its ex-post-facto approval to the capital infusion made in the Export Import Bank of India (EXIM Bank) of Rs. 800 crore, as approved in the Demands for Grants and consented to by the Finance Minister to support the future growth of the Bank.

The EXIM Bank was set up as a statutory Corporation in 1982 under the Export Import Bank of India Act, 1981.

It was created for providing financial assistance to exporters and importers, and for functioning as principal financial institution for coordinating the working of institutions, engaged in financing export and import of goods and services.

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