Cabinet likely to consider capital infusion proposal for Exim Bank today

The Union Cabinet in its meeting, headed by Prime Minister Narendra Modi, scheduled on Wednesday, is likely to consider fund infusion in Export-Import Bank of India (Exim Bank), sources said.

The meeting may take up a host of issues including a capital infusion of Rs 500 crore in Exim Bank, sources said. The infusion would help the bank expand its business, sources added.

Last financial year, the government infused Rs 500 crore in the bank.The bank is established by the Government of India.

Exim Bank commenced operations as a purveyor of export credit, mirroring global export credit agencies.

For industries and small and medium enterprises, it serves as a growth engine 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.