Definition
EXIM Bank of India
The Export-Import Bank of India is the country's premier financial institution for financing and facilitating foreign trade.
The EXIM Bank finances and promotes India's exports and imports, offering credit to exporters, lines of credit to overseas buyers and governments, and support for project exports and overseas investment by Indian companies. It is a key instrument of India's economic diplomacy.
Its lines of credit to other developing countries, often backed by the government, help promote Indian goods and services abroad. EXIM Bank also provides advisory services and research to help Indian firms compete in global markets.
Related terms
- Customs DutyCustoms duty is the tax levied on goods imported into, or in some cases exported from, India, administered under the Customs Act.
- NABARDNABARD is the National Bank for Agriculture and Rural Development, the apex development financial institution for agriculture and the rural economy.
- SIDBISIDBI is the Small Industries Development Bank of India, the principal financial institution for promoting and financing the MSME sector.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.