New Delhi: The government has decided to infuse Rs 1,300 crore into the public sector Indian Export-Export Bank (Exim Bank) for its business growth.
Last year, the government increased its authorized capital in the bank from Rs 10,000 crore to Rs 20,000 crore. As per the budget documents presented in Parliament this month, “Exim Bank’s contribution to raise the paid-up capital to its authorized capital Provision has been made (Rs. 1,300 crore).
“This is Rs 350 crore more than the provision made by the government for the current financial year. The government had made a provision to infuse Rs 950 crore in Exim Bank in the current financial year.
Exim Bank is the premier export lending agency in India and infusion of capital into it will support new initiatives such as support to the textile industry and possible changes in the concessional finance scheme.
