New Delhi : The Union Cabinet Wednesday approved fund infusion in Export-Import Bank of India (Exim Bank), sources said.
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The infusion would help the bank expand its business, they added.
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The government had provided for Rs 500 crore towards capital infusion in the Exim Bank in the budget for this fiscal.
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The government had infused Rs 500 crore in Exim Bank last financial year.
Established by the Government of India, Exim Bank commenced operations as a purveyor of export credit, mirroring global export credit agencies.
It serves as a growth engine for industries and small and medium enterprises 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.
PTI
16/1/2019
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