Functions and Importance of Export Import Bank in India

Globalization and liberalization were initiated in India after the 1991 reform. The government has opened gates for the import and export industry. And after that, this industry rose from scratch and became one of the largest exporter countries globally in no time.

The Export Import Bank in India, vastly known as the EXIM bank, is one of the prominent financial in India providing financial assistance to the Importer and exporters of India through various services.

Previously, it was considered the branch of IDBI However, as the economy and industry grew; it gained its own identity. If we look at the core functions of EXIM Bank, there would be numerous, but its ultimate objective is to cater to the requirements of Indian importers and Exporters and promote foreign trade in the country. But, if you are planning to dig deeper into this one of the largest trade networks in India, you can find numerous vital functions that you should be aware of.

This blog will also help you understand how EXIM Bank can facilitate foreign trade, whether you are a growing Indian business entity, joint venture, or even a small financial institution.

However, before getting into the main functions of this robust entity, we need to understand why Export Import Bank in India is considered one of the dominant institutions in financial trade nationally and internationally? And how it can assist you when it comes to the financial matters engaged in the?import-export trade.

Learn more for Importance of Export Import bank in India