PROJECT REPORT

ON
EXIM BANK OF INDIA.

MASTER OF COMMERCE
(2013-2014)
ACCOUNTANCY PART 1
AFFILIATED BY UNIVERSITY OF MUMBAI

UNDER GUIADANCE OF
PROF. DR. C. V. HARI NARAYANAN.
SUBMITTED BY
MITISHA C. DEDHIA
ROLL NO. 8

K.J.SOMAIYA COLLEGE OF ARTS & COMMERCE.

VIDHYAVIHAR.

DECLARATION BY STUDENT

I Dedhia Mitisha C., Roll No. 08, the

student of M.com (1)-(2013-2014) hereby
declare that I have completed the project on
EXIM BANK OF INDIA.

The information submitted is true and original

to the best of my knowledge.

Thank you.

Your's faithfully,
MITISHA C. DEDHIA
Roll no. 08
DATE:
PLACE:

DECLARATION BY GUIDE

I, the undersigned Prof. Dr. C. V. HARI

NARAYANAN, have guided MISS DEDHIA
MITISHA C. for her project. She has completed
the project EXIM BANK OF INDIA.
I hereby declare that the information
provided in this project is true as per my
knowledge.

THANK YOU.

YOUR'S FAITHFULLY.
Prof. Dr. C. V. HARI NARAYANAN.

DATE:
PLACE:

ACKNOWLEDGEMENT

I would like to thank all the people who

helped me in undertaking the study and
completing the project, by imparting me the
valuable information and guidance that was
required at every stage of my project work.
I would like to thank our principal and
course co-ordinate, and our co-ordinate, for
giving me an opportunity and encouragement
to prepare this project.
Last but not the least, I would like to thank my
project guide Prof. Dr. C. V. HARI NARAYANAN
for guiding and helping me throughout the
preparation of my project, right from the
selection of the topic till its completion.

Yours Faithfully,
4

MITISHA DEDHIA.

K J SOMAIYA COLLEGE OF ARTS & COMMERCE

VIDYAVIHAR (E)
EVALUATION CERTIFICATE

This is to certify the undersigned have assessed and

evaluated the project on EXIM BANK OF INDIA.
submitted by MITISHA DEDHIA student of M. Com. Part-1
(2013-2014), ROLL NO- 08.
This project is original to the best of our knowledge and has
been accepted for Internal Assessment.

INTERNAL EXAMINER

EXTERNAL EXAMINER

(Prof. Dr. C. V. HARI NARAYANAN.)

PRINCIPAL
(DR. SUDHA VYAS)

EXIM
BANK
OF
INDIA.
INDEX

TOPIC
PAGE NO
INTRODUCTION
8
ROLE AND FUNCTION
11
OVERSEAS INVESTMENT FINANCE PROGRAMME.
18
PROJECT EXPORTS.
19
BOARD OF DIRECTORS.
26
PERFORMANCE HIGHLIGHT.
36
MARKETING ADVISORY SERVICE.
39
EXPORT ADVISORY SERVICE GROUPS.
40
FINANCIAL HIGHLIGHTS.
44
PRESS RELEASE.
50
AWARDS.
64
7

TENDER & NOTICE.

67
CAREER.

69

LINKS.

74

EXIM Bank (India)

Exim Bank

Type

Public

Industry

Banking
Financial services
Export Credit Agency

Founded

1982

Headquarters Mumbai, India

Key people

Anurag Jain
(interim),Chairman and
Managing Director

Products

Corporate Finance
8

Lines of Credit
Export Credits
Film financing
Export Services
SME & Agro Finance
Buyer's Credit NEIA
Website

Official Website

Export-Import Bank of India is the premier export finance institution

in India, established in 1982 under the Export-Import Bank of India Act
1981. Since its inception, Exim Bank of India has been both a catalyst
and a key player in the promotion of cross border trade and investment.
Commencing operations as a purveyor of export credit, like other Export
Credit Agencies in the world, Exim Bank of India has, over the period,
evolved into an institution that plays a major role in partnering Indian
industries, particularly the Small and Medium Enterprises, in
their globalisation efforts, through a wide range of products and services
offered at all stages of the business cycle, starting from import
of technology and export product development to export
production, export marketing, pre-shipment and post-shipment and
overseas investment.

Organization.
Exim Bank is managed by a Board of Directors, which has
representatives from the Government, Reserve Bank of India, Export
Credit Guarantee Corporation of India, a financial institution, public
sector banks, and the business community.

The Bank's functions are segmented into several operating groups

including:

Corporate Banking Group which handles a variety of financing

programmes for Export Oriented Units (EOUs), Importers, and
overseas investment by Indian companies.

Project Finance / Trade Finance Group handles the entire range of

export credit services such as supplier's credit, pre-shipment
Agriculture Business Group, to spearhead the initiative to promote
and support Agricultural exports. The Group handles projects and
export transactions in the agricultural sector for financing.

Small and Medium Enterprise: The group handles credit proposals

from SMEs under various lending programmes of the Bank.

Export Services Group offers variety of advisory and value-added

information services aimed at investment promotion.

Export Marketing Services Bank offers assistance to Indian

companies, to enable them establish their products in overseas
markets. The idea behind this service is to promote Indian export.
Export Marketing Services covers wide range of export oriented
companies and organizations. EMS group also covers Project exports
and Export of Services.

Besides these, the Support Services groups, which include:

Research & Planning, Treasury and Accounts, Loan Administration,
Internal Audit, Management Information Services, Information
Technology, Legal, Human Resources Management and Corporate

Communications.

10

Export-Import Bank of India is the premier export finance institution of

the country, set up in 1982 under the Export-Import Bank of India Act
1981. Government of India launched the institution with a mandate to
not just enhance exports from India, but also to integrate the countrys
foreign trade and investment with the overall economic growth. Exim
Bank of India has been both a catalyst and a key player in the promotion
of cross border trade and investment. Commencing operations as a
purveyor of export credit, like other Export Credit Agencies in the
world, Exim Bank of India has evolved into an institution that plays a
major role in partnering Indian industries, particularly the Small and
Medium Enterprises through a wide range of products and services
offered at all stages of the business cycle, starting from import of
technology and export product development to export production, export
marketing, pre-shipment and post-shipment and overseas investment.
Role and Functions July 15, 2010

OBJECTIVES: for providing financial assistance to

exporters and importers, and for functioning as the principal financial
institution for coordinating the working of institutions engaged in
financing export and import of goods and services with a view to
promoting the countrys international trade shall act on business
principles with due regard to public interest (Export-Import Bank of
11

India Act, 1981) APEX FINANCIAL INSTITUTION

COMMENCED OPERATIONS IN MARCH 1982 WHOLLY
OWNED BY GOVERNMENT OF INDIA SET UP BY AN ACT OF
PARLIAMENT IN SEPTEMBER 19812. 2Exim Bank of India

Pune* As per Exim Bank Act Mumbai Govt. of India New

Delhi Appointed by Washington D.C. Kolkata 1 Director
nominated by ECGC Singapore Hyderabad 1 Director nominated
by IDBI London Guwahati 1 Director nominated by RBI Durban
Chennai 4 Directors : Professionals/Experts Dubai Chandigarh
3 Directors: Scheduled Banks Dakar Bangalore Addis Ababa
Ahmedabad 5 Directors: Government of India Chairman and
Managing Director Domestic Offices: 10 Overseas Offices:7 3. 3
Management BOARD OF DIRECTORS (16)* OFFICES

Operational Philosophy International Trade Financing Promoting

Facilitating ThroughVariety of Financing Value Added Business
Research and Programmes Advisory Services Analysis Catalyst for
Financing Projects Products Services

Financing Programmes Financing Programmes (Various

Currencies)Export Credit Import Credit Loans for Exporting
UnitsMedium / Long Term - Import Loan for - Term Loans for
expansion/ diversification/ new projects/- Lines of Credit capital goods
export product development/- Buyers Credit - Bulk Import Loan for
export marketing/ research & development- Suppliers Credit Raw
Materials - Term Loans for overseas equity investmentShort Term Direct equity stake in Indian/- Pre/Post Shipment Overseas ventures of
exporting Credit companies

Exim Bank provides term loan for financing soft expenditure such
as marketing, product development, R Foreign currency financing for
SMEs. Lending in both rupee and foreign currency. Competitive
finance. International experience. We can leverage on our international
12

network. Knowledge of exporters requirements Comprehensive

range of products and services for exporters.6. 6 Exim Banks
Competitive Advantage& Special products like LOC, Overseas
Investment Financing etc.D financing.

Import of Technology Production Equipment Finance

Programme (PEFP) Project Finance (Green Field / Brown Field)7. 7
Term LoansTerm Finance (For exporting companies Criteria is
minimum 10% of theturnover should be by way of exports on FOB basis
or Rs.5 crs exports ofFOB basis, whichever is less) & Export Product
Development/ Research Domestic Acquisitions of
businesses/companies/brandsRelated Services & Import Finance
Programme (IFP) for non-exporting Companies. Long Term Working
Capital Finance / General Corporate FinanceDevelopment

Bulk Import Finance Programme Working Capital Term Loans

Export Lines of Credit (Non-recourse finance)General Working Capital
Finance Warehousing Finance Export Receivables Financing Bills
Discounting Suppliers Credit [including deferred payment credit]
Buyers Credit Post Shipment Credit Pre-shipment Credit8. 8
Working Capital FinanceExport Finance

Direct Finance (Term Finance for Indian Companys equity

participation in the overseas Joint Venture (JV)/ Wholly Owned
Subsidiary (WOS)9. 9 Overseas Investment Finance & Direct Equity
by Exim Bank in the overseas JV/ WOS of an Indian Company Finance
(for equity/debt component) for acquisition of overseas businesses /
companies including leveraged buy-outs including structured financing
optionsWorking Capital) to the overseas JV / WOS

An arrangement for financing a number of export contracts under

one umbrella. Direct Exposure on overseas borrowers Enables
import of Indian equipment and technology on deferred credit terms
Lines of Credit : A catalyst for trade promotion Exporters get payment
13

on shipment No recourse to Indian Exporters 10. 10Lines of Credit

Programme Lines of Credit (LOCs)Exims own LOCs to At behest of
GOI, concessional LOCs to developing countries ineconomically strong
Asia/ Africa/ Latin America with a long-term perspective. While
Eximdeveloping countries raises the resources and funds disbursement,
GOI guarantee andand regional provide interest equalisation support
under India Developmentdevelopment banks Initiative. Total Lines
136, Countries 94 and Amt. USD 4.49 bn. BENEFITS

South AFRICA (US$ 2.4 bn) Gambia, Ghana, Guinea, Nigeria,

Senegal, Sierra Leone, DR Congo, Eritrea, Togo, Equatorial Guinea,
Rwanda, Egypt, Morocco, Sudan, Ethiopia, Kenya, Mauritius, Malawi,
Mozambique, Afreximbank, EBID, BOAD 11. 11 Select Major Lines of
Credit & Europe (US 20 mn) Oceania (US$ 50 mn) CIS (US$ 65
mn) LAC (US$ 168 mn) Suriname, Banco Bradesco S.A., Brazil;
Uniao De Bancos Brasileiros S.A.(UNIBANCO), Brazil; Bancomext,
Mexico; CAF, Central American Bank for Economic Integration West
Asia (US$ 290 mn) Bank Markazi, Iran; Iranian Commercial Banks
(13), Syria South-East Asia (US$ 880 mn) Cambodia, Myanmar, Nepal,
Sri Lanka, Vietnam

Project & Over the past two decades, increasing number of

contracts have been secured by Indian companies in West Asia, North
Africa, Sub Saharan Africa, South Exports of projects and services,
broadly categorised into Civil engineering construction projects,
Turnkey projects, Consultancy services.Services Exports Promoting
Project Exports & Such projects have supplemented the efforts of the
host country governments in achieving their developmental objectives.
Projects Currently Under Execution with Exim Bank Support (as on 31st
Mar, 2010) No. of Contracts : 235 Value of Contracts : US$ 17.73 billion
No. of Countries : 38 No of Indian companies : 46South East Asia, CIS
and Latin America.

Exim Bank and SMEs EMS & Seeks to help Indian SME sector to
establish their p Export Marketing Services Programme Exims
14

network of overseas offices play a proactive role. Export Marketing

support given for finding international market for products of rural
industries produced by SHGs / NGOs in different states. Exim Bank
Supporting exports from Rural Grassroots Enterprises Skill
Upgradation for SMEs Eximius Centres of Learning in Bangalore/ Pune/
Ahmedabad for knowledge building No upfront fees, but operates on
success-fee basis roducts overseas and enter new markets through
Exims overseas offices and MOU partner network & capacity creation
for SMEs

Nearly 100 companies were assisted in a range of sectors

including engineering goods Enabled companies to access international
consultancy at low cost due to cluster approach Facilitate knowledge
sharing with other companies in the cluster Enhance their capability
and acceptance in overseas markets Achieve international quality
certification The programme aimed to assist SMEs to: Exim Bank
initiated a Clusters of Excellence programme to assist small and
medium sized companies in achieving international quality
standards14. 14Cluster Approach Clusters of Excellence

Agro Plantation Sector Organic Farming Brought out

following study reports; The Bank brings out a bi-monthly newsletter
Agri Export Advantage to facilitate information dissemination in 10
regional languages. The Bank has set up an agro-portal, in-house,
which is an IT initiative to promote knowledge-based agriculture
enterprise. www.eximbankagro.in The Group looks for viable projects
and export transactions in agriculture sector. The Bank has put in place
an Agri Business Group 15. 15Agri Business Group & Honey,
Mango pulp, mushrooms, gherkins,fresh Assisted a number of Small
and Medium exporters in the Agro Sector covering following products;
Processed foods Export Opportunities & processed fruits &
Vegetables

15

Research & Contribution to Public Policy formulation through

inputs on WTO aspects, impact of exchange rates on exports, transaction
costs, etc. Indo-Africa, Indo-Latin America and Indo-CIS Magazines
(all bilingual) Indo-China Newsletter (bilingual) Agri Export
Advantage (in English, Hindi and 10 regional languages) Export
Advantage (bilingual) Exim Newsletters International Trade
Related Studies. Bilateral Trade and Investment Studies. Sector
Studies assessing export potential. Research Studies on products,
sectors, countries, macro economic issues relevant to international trade
and investment Analysis Knowledge Building: Research Publications

Processed foods to Singapore Ayurvedic Products to Hungary

Over 300 companies supported in various sectors. Some of Cos.
assisted include : No upfront fees, but operates on success-fee basis
Helps Indian SMEs in their export efforts by proactively assisting in
locating overseas buyers/partners for their products/services Seeks to
help Indian SME sector to establish their products overseas and enter
new markets through Exims overseas offices and institutional partner
network Exim Bank has launched an Export Marketing Services
programme17. 17Capacity Building for SMEs Export Marketing
Services & Grapes and Pomegranates to Singapore Lucknow Chikan
Kurtas to Singapore USA Incense sticks to Singapore, S. Africa,
Cotton fabrics to S. Africa Natural Sandstone and Tiles to Hungary
Agarbathis to S. Africa and Singapore chain in S.Africa Tiger
Prawns to a leading restaurant Italy

The program envisages confirmation of Letters of credit (L/Cs),

Standby letters of credit, demand guarantees, promissory notes or bills
of exchange denominated in Dollars, Euro, Yen or in other freely
available convertible currencies acceptable to IFC, received by Indian
exporters from pre-approved banks in the countries of IFCs operation,
i.e. Central Asia, Central and Eastern Europe, Latin America18.
18Innovative Programs for Empowering SMEs GLOBAL TRADE
16

FINANCE PROGRAM (GTFP)) & the Caribbean, Middle East & The
program currently covers 74 countries of IFCs operation and Exim Bank
may confirm the L/Cs IFC will provide guarantee facility to Exim
Bank to cover such L/C confirmation and confirmation of other trade
instrumentsNorth Africa as also other regions of Asia and Africa. &
other trade instruments issued by pre- approved banks for supporting
Indias exports to these countries.

Institutional Linkages Multilateral Agencies Trade & Exim Bank

of China Board of Invt. Mauritius UNCTAD IFC Sri Lanka
Indonesia PT Bank Ekspor Board of Investment of MIGA US
Exim Bank EBRD Foreign Investment JBIC Polish Agency for
Hungarian Exim Bank Bank African Development Trade Promotion
Czech Export Bank Netherlands Council for ADB Exim Bank
Romania JETRO World Bank Invt. Promotion Agencies Export
Credit Agencies

Post shipment Pre shipment Marketing Production Product

Development Capital Goods Raw Materials (Overseas Ventures)
Capital Capital Goods (Foreign Investment) Capital Final
Products Technology 20. 20Exim Bank: Partner in Globalisation

Export & Import Statistic of NER: 2009-10 (Rs. Crs)Division

Export ImportShillong 759.76 0.37Dhubri 132.27 13.05Guwahati
465.94 0.98Agartala 0.33 167.84Karimganj 33.96 46.4Imphal 2.15
8.31TOTAL 1394.41 236.95Source: Commissioner of Cust oms, NER,
Shillong

Major commodities of export from NER: 2009-10 (Rs. Crs)

Commodity Value % of total export Limestone 548.11 39% Tea 465.47
33% Coal 318.61 23% TOTAL 1332.19 96% Source: Commissioner of
Customs, NER, Shillong

Major commodities of import into NER: 2009-10 (Rs. Crs)

Commodity Value % of total export Cement 73.68 31% Stone chips
17

35.00 15% Hilsa Fish 30.40 13% TOTAL 139.08 59% Source:
Commissioner of Customs, NER, Shillong

No. of seminars conducted at key centres in NER (Guwahati,

Itanagar, Shillong, Kohima, Gangtok ) covering various sectors
including: Export of Agricultural Products; Handicrafts; Medicinal
Plants; Export Oriented Food Processing Industry; Export Procedure
Exim Bank endeavours to play a role in promoting exports from the
NER through creating awareness about export potential to financing of
exports and export-oriented units - Office in Guwahati estd. in 2003covers the entire NER 8 States24. 24 Exim Bank in the North East
Region & Linkages with key financial institutions and organisations
SIDBI, NABARD, APEDA, UBI, NEDFi, North East
HandicraftsDocumentation; Entrepreneurship Development. &
Financed no. of units in various sectors including: passion fruit
processing; cancer research instituteHandlooms Development Corp.;
Promoter-member of Small Farmers Agri Business Consortium (SFAC).
& hospital; tourist resort; mfg. of refractories; bamboo flooring; ginger
oil processing & pineapple slices; mfg. of potato chips; mfg. of IV
fluids; BPO; export of Agar oil/perfumery; mushroom processing; mfg.
of handloom products; ornamental fish; instant tea processing; stevia
powder processing and floriculture export .

Agricultural Mineral based products25. 25 Export Potential of

NE Region & Services exports ITes, Tourism, Deemed Exports,
Education Processed food products (niche products) Spices ginger,
large cardamom, turmeric etc.allied products, mainly organic products
& Handicrafts and handHealthcare Services Bamboo based products
Plantations crops Tea, Rubber Aromatic and medicinal products
Floriculturelooms
OVERSEAS INVESTMENT FINANCE PROGRAMME
Exim Bank encourages Indian companies to invest abroad for, inter alia,
setting up manufacturing units and for acquiring overseas companies to
18

get access to the foreign market, technology, raw materal, brand, IPR
etc. For financing such overseas investments, Exim Bank provides:
a) Term loans to Indian companies upto 80% of their equity investment
in overseas JV/ WOS.
b) Term loans to Indian companies towards upto 80% of loan extended
by them to the overseas JV/ WOS.
c) Term loans to overseas JV/ WOS towards part financing
(i) capital expenditure towards acquisition of assets,
(ii) working capital,
(iii) equity investment in another company,
(iv) acquisition of brands/ patents/ rights/ other IPR,
(v) acquisition of another company,
(vi) any other activity that would otherwise be eligible for finance
from Exim Bank had it been an Indian entity.
d) Guarantee facility to the overseas JV/ WOS for (i) raising term
loan/ working capital.

ELIGIBILITY TO AVAIL FINANCE OR SERVICES:

Exim Bank's funded/ non-funded assistance is generally with recourse to
the Indian promoter Company. Exim Bank financing is available in
Indian Rupees (to the Indian borrower) and in foreign currency [as per
extant RBI guidelines]. Commercial interest rates are charged on the
term finance. The tenor range is usually 5-7 years with a suitable
moratorium, and repayments in suitable monthly/ quarterly installments.
Promoter margin is minimum 20% and security will include inter alia
appropriate charge on the assets of the overseas entity, Corporate
Guarantee of the Indian promoter backed by appropriate charge on its
assets, Political and/ or commercial risk cover, Pledge of shares held by
the Indian promoter in the overseas venture etc.
PROJECT EXPORTS

19

Projects involve activities like engineering, procurement, construction

(civil, mechanical, electrical or instrumental), including provision of all
desired and specified equipment and / supplies, construction and
building materials, consultancy, technical know-how, technology
transfer, design, engineering (basic or detailed), commissioning with
other all such related services as are needed by the existing or new
projects / plants / processes involving international competitive bidding
(thus including even Multilaterally Funded Projects in India). Project
exports occupy an important place in India's export portfolio. The
contracts secured in the recent years have been quite diverse in nature,
indicating the growing versatility and technological capabilities of
Indian project exporters.
Exim Bank extends funded and non-funded facilities for overseas
turnkey projects, civil construction contracts, technical and consultancy
service contracts as well as supplies.

Turnkey Projects are those which involve supply of equipment

along with related services, like design, detailed engineering, civil
construction, erection and commissioning of plants and power
transmission & distribution

Construction Projects involve civil works, steel structural works, as

well as associated supply of construction material and equipment for
various infrastructure projects.

Technical and Consultancy Service contracts, involving provision

of know-how, skills, personnel and training are categorised as
consultancy projects. Typical examples of services contracts are:
project implementation services, management contracts, super vision of
erection of plants, CAD/ CAM solutions in software exports, finance
and accounting systems.

Supplies: Supply contracts involve primarily export of capital

goods and industrial manufactures. Typical examples of supply
contracts are: supply of stainless steel slabs and ferro-chrome
manufacturing equipments, diesel generators, pumps and compressors.
FUNDED FACILITIES
20

PRE-SHIPMENT CREDIT in Indian Rupees and Foreign Currency

provides access to finance at the manufacturing stage - enabling
exporters to purchase raw materials and other inputs. The facility also
enables provision of Rupee/FC mobilization expenses for
construction/turnkey projects. Exporters can also avail Foreign Currency
Pre-shipment Credit facility to import raw materials and other inputs
required for export production.

POST-SHIPMENT CREDIT finances the export bill after shipment

has been made. This facility enables Indian exporters to extend term
credit to importers (overseas) of eligible goods at the post-shipment
stage. construction/turnkey projects. Exporters can also avail Foreign
Currency Pre-shipment Credit facility to import raw materials and other
inputs required for export production.
These facilities are extended by Exim Bank individually or in
participation with commercial banks on a case-to-case basis.

ELIGIBILITY: Indian manufacturers and project exporters can take

advantage of these facilities to support their export trade financing
requirement. The facilities cover Indian capital and engineering goods
and related services. One of the following securities is taken by Exim
Bank: Cash Collateral; Corporate Guarantee; Shareholders and / or
Directors Guarantee; Landed property; Charge on fixed and/or floating
assets of customers; Assignment of insurance policies, agreements,
contract proceeds, rights and benefits; Any other security acceptable to
the Bank.
21

EXPORT PROJECT CASH FLOW DEFICIT FINANCE

(EPCDF) is provided to Indian Project exporters executing project
export contract overseas. The facility (INR/FC) enables project exporters
to take care of temporary deficits in their cash-flow during contract
execution period.
ELIGIBILITY: Indian companies executing contracts within India, but
which are financed by multilateral funding agencies, or contracts for
which deemed export benefits are available under Foreign Trade Policy,
can avail of credit under our Finance for Deemed Exports facility, aimed
at helping them meet cash flow deficits.

NON FUNDED FACILITIES

Indian companies can avail of these facilities to secure & facilitate
execution of export contracts or deemed export contracts.
ADVANCE PAYMENT GUARANTEE (APG): Issued to project
exporters to secure a project mobilization advance as a percentage (1020%) of the contract value, which is generally recovered on a pro-rata
basis from the progress payment during project execution.
PERFORMANCE GUARANTEE (PG): IPG for up to 5-10% of
contract value is issued valid until completion of maintenance period
and/or grant of Final Acceptance Certificate (FAC) by the overseas
employer/client.
RETENTION MONEY GUARANTEE (RMG): This enables the
exporter to obtain the release of retained payments from the client prior
to issuance of Project Acceptance Certificate (PAC)/ Final Acceptance
Certificate (FAC).
22

OTHER GUARANTEES: e.g. in lieu of customs duty or security

deposit for expatriate labour, equipment etc.
ELIGIBILITY: Indian project exporters securing overseas or deemed
export contracts.

LINE OF CREDIT
A Line of Credit (LOC) is a financing mechanism through which Exim
Bank extends support for export of projects, equipment, goods and
services from India. Exim Bank extends LOCs on its own and also at the
behest and with the support of Government of India. Exim Bank extends
Lines of Credit to:

a) Foreign Governments or their nominated agencies such as

central banks, state owned commercial banks and para-statal
organizations;
b) National or regional development banks;
c) Overseas financial institutions;
d) Commercial banks abroad;
e) Other suitable overseas entities.
The above mentioned recipients of LOCs act as intermediaries and on
lend to overseas buyers for import of Indian equipment, goods and
services. LOC is a financing mechanism that provides a safe mode of
non-recourse financing option to Indian exporters to enter new export
markets or expand business in existing export markets without any
payment risk from the overseas importers.
BUYER'S CREDIT
Overseas buyers/importers can avail this facility for import of eligible
goods and services from India on deferred payment terms. The facility
enables exporters/contractors to expand abroad and into non-traditional
23

markets. It also enables exporters/contractors to be competitive when

bidding or negotiating for overseas jobs.

BENEFITS TO FOREIGN CUSTOMERS

Enables overseas buyers to obtain medium-and long-term

financing

Competitive interest rate against host country's high cost of

borrowing;
ELIGIBILITY:
Buyer's Credit is extended to a foreign project company that intends to
award the project execution to an Indian project exporter. The financing
will be available to all kinds of projects and service exports from India.
Facility is available for development, upgrading or expansion of
infrastructure facilities; financing of public or private projects such a
plants and buildings; professional services such as surveyors,
architecture, consultations, etc.

THE LEADERSHIP
Since its inception, Exim Bank has had, at the helm of its affairs, leading
banking professionals as Chief Executive Officers. Shri R.C. Shah, a
seasoned banker, with vast commercial and international banking
experience, was the first Chairman and Managing Director of Exim
Bank during January 1982-January 1985. His vision helped the setting
up of the institution as a unique organizational model, with a flat, nonhierarchical culture, multi-disciplinary approach to problem solving,
access to the latest technology and a climate for innovation. He was
succeeded by Shri Kalyan Banerji, who was the Chairman and
Managing Director during February 1985-April 1993. Shri Banerji had
long years of commercial banking experience, with exposure to
international banking. Ms. Tarjani Vakil took over as the Chairperson
and Managing Director of the Bank in August 1993 and guided the
24

institution in its endeavors for export capability creation, till October

1996. She was succeeded by Shri Y.B. Desai, who was the Managing
Director of the Bank during August 1997-April 2001. Shri T.C. Venkat
Subramanian then took over as Chairman and Managing Director of
Exim Bank in May 2001 and retired in October 2009. Smt. Ravneet
Kaur, then Joint Secretary (IF) Department of Financial Services,
Ministry of Finance headed the institution from November 2009 to
March 2010. She was succeeded by Shri T.C.A. Ranganathan in April
2010. Shri Ranganathan has nearly four decades of work experience in
the banking sector and before joining Exim Bank he was the Managing
Director of State Bank of Bikaner & Jaipur.

THE BOARD
Exim Bank of India has been guided by expertise at the Board level, by
senior policy makers, expert bankers, leading players in industry and
international trade as well as professionals in exports or imports or
financing thereof. As per the Exim Bank Act, at a particular point in
time, the Bank can have a maximum of 16 directors on its Board.
Including Chairman and Managing Director, the Banks Board
constitutes of 13 directors who are appointed by the Government of
India, they are five top level Government of India functionaries, three
directors from scheduled commercial banks and four directors who are
industry/trade experts. Three other directors are nominated by the
Reserve Bank of India (RBI), Industrial Development Bank of India
(IDBI) and Export Credit Guarantee Corporation of India Ltd. (ECGC)
respectively.
OBJECTIVES
25

 for providing financial assistance to exporters and importers, and for

functioning as the principal financial institution for coordinating the
working of institutions engaged in financing export and import of goods
and services with a view to promoting the countrys international
trade
shall act on business principles with due regard to public interest
: The Export-Import Bank of India Act, 1981
EVOLVING VISION

26

BOARD OF DIRECTORS
Chairman and Managing Director (Interim)

SHRI ANURAG JAIN

Chairman and Managing Director (Interim)Export-Import
Bank of India
Shri Anurag Jain, (IAS :1989), Joint Secretary (Financial Inclusion
& CVO), Department of Financial Services, Ministry of Finance.
Shri Anurag Jain is a graduate in Electrical Engineering from the
Indian Institute of Technology, Kharagpur and holds a Masters
degree in Public Administration from Maxwell School of Syracuse,
USA. Shri Anurag Jain is on the Boards of Punjab National Bank,
National Insurance Co. Ltd. and IFCI Ltd.
Directors representing the Government of India

27

SHRI RAJIV TAKRU

SecretaryDepartment of Financial ServicesMinistry of Finance
Shri Rajiv Takru has over three decades of work experience in
various capacities, having started his career in 1981. Shri Takru, a
1979 batch IAS officer of Gujarat cadre has served in various
capacities with the Ministries of Land Revenue Management &
District Administration, Industries, Personnel & General
Administration, Tourism, Consumer Affairs, Food & Public
Distribution, Finance, Urban Development, Commerce, Defence,
Textiles. He has also served as Additional Secretary, Ministry of
Information and Broadcasting and also as Additional Secretary,
Ministry of Health and Family Welfare. In February 2013, Shri
Takru, was elevated as Secretary, Ministry of Finance, DFS.
He is a Graduate in Mechanical Engineering and has done his PostGraduation in Police Administration. He serves as Director on
several Boards, viz. State Bank of India, Life Insurance
Corporation of India, Government Nominee Director on the Board
of India Infrastructure Finance Co. Ltd. (IIFCL). During the span
of his career Shri Takru has attended several training programmes
both in India as well as overseas.

28

SHRI SAURABH CHANDRA

SecretaryDepartment of Industrial Policy &
PromotionMinistry of Commerce & Industry
Shri Saurabh Chandra is an officer of the Indian Administrative
Services belonging to the 1978 batch. He has served in different
capacities in the State of Uttar Pradesh between 1979 and 1993
before moving on to a stint in the UP Secretariat in the Department
of Finance. Thereafter, he was posted as Collector and Magistrate,
Banda District, Administrator of Agra Municipal Corporation with
concurrent charge of Vice Chairman of Agra Development
Authority; Managing Director of Uttar Pradesh Small Industries
Corporation (UPSIC) and Collector and Magistrate of Varanasi
District. He has worked with the Department of Fertilizers,
Ministry of Chemicals and Fertilizers, Government of India and
the Department of Irrigation under the Government of Uttar
Pradesh. Shri Chandra has also worked in the Departments of
Revenue and Disinvestment, both under the Ministry of Finance
and the Departments of Tourism, Science and Technology and
Rural Engineering Services in the State Government.
Shri Chandra is a graduate in Electrical Engineering from the
Indian Institute of Technology, Kanpur (First Class with
Distinction) and holds a Diploma in Management. He has been
conferred numerous Awards during his service period, some of
which are the 1991 Census Silver Medal; the Government of UPs
State Award for Outstanding and praiseworthy services rendered
during 1990-91; the Government of UPs Letter of Commendation
for successfully implementing Priority Development Programmes
and 20 Point Programme of the State Government for the period
2001-02.
Directors from Institutions & Commercial Banks

29

SHRI G. PADMANABHAN
Executive DirectorReserve Bank of India
Shri G. Padmanabhan, has over 30 years of experience in various
capacities in the Reserve Bank of India. Areas of work experience
include bank regulation and supervision, regulation and
supervision of the foreign exchange market in India as also
regulation and supervision of debt markets. He drove IT initiatives
in the Reserve Bank for over three years during which time several
important projects fructified, the most important being the state of
the art Tier IV data centre of the Bank. Before being elevated as
Executive Director, he was heading the Department of Payment
and Settlement Systems in the Bank. Under his initiative, the
country saw the introduction of a wide range of new payment
systems products like pre paid cards, m wallets etc.
Shri Padmanabhan is a post graduate in Economics and an
Associate of the Indian Institute of Bankers. He holds a Masters
degree in Business Administration from the Birmingham
University and is an Alumnus of the Kellogg Business School. He
has been a panel member at many of the Seminars on market issues
organized in India and a regular guest speaker at many of the
training colleges run by the Reserve Bank/ Commercial Banks.

30

SHRI N. SHANKAR
Chairman-cum-Managing DirectorExport Credit Guarantee
Corporation of India Ltd
Prior to joining Export Credit Guarantee Corporation of India Ltd,
Shri N. Shankar served as Executive Director of Export-Import
Bank of India. At Exim Bank he looked after the Corporate
Banking and Business Development Group, Small & Medium
Enterprises/Agri Business Group, Risk Analysis and Credit
Monitoring, IT, MIS, Corporate Affairs Group and the Corporate
Finance Group comprising Treasury, Resources and Accounts. He
was also the Presiding Officer of the Committee of Executives,
Asset Liability Management Committee, Credit Risk Management
Committee and Integrated Risk Management Committee.
Shri Shankar, a professional banker, is also a Certified Associate of
Indian Institute of Bankers having over 35 years of experience
comprising 6 years in commercial banks and 29 years in Exim
Bank. Shri Shankar is a top rank holder in Mathematics from the
Madras University and is a Chartered Financial Analyst of the
Institute of Chartered Financial Analysts of India, Shri Shankars
specialisation includes International Finance, Integrated Treasury
& Fund Management, Credit Administration and Risk
Management.

31

SMT. ARUNDHATI BHATTACHARYA

ChairpersonState Bank of India
Mrs. Arundhati Bhattacharya has assumed the office as
Chairperson of State Bank of India on 7th October, 2013.
She is the first Chairperson of the country's largest Bank. She also
has the distinction of being the first women Managing Director of
the Bank.
A Post Graduate alumnus from the Jadavpur University, West
Bengal, Mrs. Bhattacharya joined SBI in the year 1977 and since
then has held various important portfolios. Before taking charge as
Managing Director, she was MD & CEO of SBI's investment
banking arm, SBI Capital Markets. Earlier, as Dy. Managing
Director in SBI, she headed the largest Human Resources
Department of the Banking Industry consisting of a work force of
over two lakh employees, which includes 65,000 Officers.
In her extensive service in the Bank, she has had the opportunity of
working in Metro, Urban and Rural areas across the length and
breadth of the country. She has handled forex, treasury, retail
operations, HR and investment banking portfolios and large
Corporate Credit. As Chief General Manager (New Businesses),
Mrs. Bhattacharya was involved in setting up several new
companies / initiatives of the Bank including SBI General
Insurance, SBI Macquarie Infrastructure Fund, SBI SG Securities
Ltd, etc., as well as the launch of new IT platforms such as Mobile
Banking and Financial Planning in the Bank. As Chief General
Manager, Bengaluru Circle, she took keen interest in promoting
Financial Inclusion and financing of Self Help Groups. She also
had a stint in the Bank's New York office where she was in charge
of monitoring branch performance, overseeing External Audit and
Correspondent Relations.
32

Her interests include reading and travel. She is also associated with
various initiatives for empowering the challenged and differently
abled with the aim of integrating them in the society.

SHRI S.S. MUNDRA

Chairman and Managing DirectorBank of Baroda
Shri S. S. Mundra, took over charge as Chairman and Managing
Director of Bank of Baroda in January 2013. Prior to this he was
Executive Director of Union Bank of India. It is home coming for
him as he was with Bank of Baroda for almost 3 decades before he
was promoted and posted as Executive Director of Union Bank of
India in September, 2010.
Shri Mundra holds a Masters Degree in Commerce and is a
Certified Associate of Indian Institute of Bankers. He began his
career as a Probationary Officer in Bank of Baroda in 1977. During
the course of career in his first stint with the Bank, he looked after
a range of portfolios like, treasury, credit, investor relations, and
served as the Zonal Head for the Maharashtra & Goa Zone. During
his stint in as General Manager at Bank of Baroda in Centralized
Treasury Operations, he guided its various functions, including
money market operations, treasury back office and front office.
Shri Mundra worked in Uganda and later his experience as the
Chief Executive Officer of Bank of Barodas European operations
have added global perspectives to his leadership.

33

SMT V.R. IYER

Chairperson & Managing DirectorBank of India
Mrs. V.R. Iyer joined Bank of India as its Chairperson and
Managing Director on November 5, 2012. Prior to this she was the
Executive Director of Central Bank of India where she was
overseeing Credit, HR, General Administration, Priority Sector,
Retail Banking, IT, Recovery and Credit Monitoring. During her
tenure as ED of Central Bank she spearheaded the completion of
CBS in the Bank before December 2010, rolling out Alternate
Delivery Channels and other key initiatives to bring the Banks
Technology platform on par with the other Public/Private Sector
Banks.
She started her career in banking in 1975 with Union Bank of
India. She had a varied and rich exposure to Branch Banking
having worked for over 12 years as a Field Officer and 9 years in
Very Large and Extra Large branches of the Banks prestigious
branches in Pune and Mumbai. During 2006-07 she worked as
Deputy General Manager, IT where she was responsible for rolling
out the entire 2500 branches of the Bank under CBS putting in
place different delivery Channels, Call Centres, comprehensive
centralized MIS solutions and also automated the entire Credit
Management. She was also instrumental in evaluating the Banks
initial overseas foray in Hongkong, China and Dubai.

34

SHRI M. S. RAGHAVAN
Chairman and Managing DirectorIDBI Bank Ltd.
Shri Raghavan took over as Chairman and Managing Director of
IDBI Bank Ltd. in July 2013. Prior to the current assignment, he
was posted as Executive Director, Bank of India. Shri Raghavan, a
science graduate and a post-graduate diploma holder in
Management and Financial Management, joined the Indian
Overseas Bank (IOB) as a Probationary Officer in 1976 and held
several distinguished positions in the bank. In a career spanning 36
years with IOB, Shri Raghavan held positions in the areas of
Credit, Operations and Information Technology. Shri Raghavan's
professional expertise encompasses the areas of Human Resources
Management, Risk Management, Corporate Credit, Information
Technology and Compliance. During his stint as General Manager,
IT in IOB, the bankinter alia implemented Core Banking Solution
across all its Branches. Shri Raghavan's contribution to the
banking system, especially with regard to IT, is widely acclaimed
by the banking fraternity. IBA and IDRBT have nominated him on
various committees of their organizations to tap his vast and
diversified experience in the banking sector. At present, Shri
Raghavan is a member of: Working Group on Model e-governance
Plan for IBA under Department of Financial Services; IBA
Committee on Payment Systems and Banking Technology for the
year 2012-13; Core Group of IDRBT Financial Services
Technology Consortium; Executive Board of IDRBT Indian Banks
Technology Consortium.
Directors representing Trade and Industry
35

DR. BISWAJIT DHAR

Director GeneralResearch and Information System for
Developing Countries
Dr.Dhar holds a Ph.D. from the Jawaharlal Nehru University. He
has been involved in the policy making process for more than a
decade. Dr. Dhar has worked in close coordination with various
ministries and departments like the Department of Commerce and
the Department for Industrial Policy and Promotion, Ministry of
Commerce; Ministry of Environment and Forests; Ministry of
Agriculture and the Department of Education.
Dr. Dhar has made significant contribution in preparing arguments
for defending India's position at the World Trade Organisation. He
has been a member of many Government and Industry Committees
working towards augmenting India's external trade potential. His
articles are regularly published in the leading business newspapers
of India. In the past, Dr. Dhar has been the head of Centre for
WTO Studies, Indian Institute of Foreign Trade and has also
served as a Senior Consultant, Planning Commission, Government
of India.

36

DR. A.M. BHATTACHARJEA

Professor of EconomicsDelhi School of EconomicsUniversity of
Delhi
Dr. Bhattacharjea holds a Ph.D. from Boston University. He
pursued his undergraduate and post graduate studies at the St.
Stephen's College, University of Delhi and the Jawaharlal Nehru
University, New Delhi respectively. After his education in India
and abroad, Dr. Bhattacharjea has taught at the St. Stephen's
College, University of Delhi, Boston University, Boston and the
Duke University, Durham (NC), US.
Dr. Bhattacharjea has received many academic awards, distinctions
and fellowships during his career and published numerous articles
encompassing trade policies, investment scenarios and macroeconomic issues. He has worked on projects sponsored by the
Stanford University, the Hong Kong University, the Indian Council
for Research in International Economic Relations and the Ministry
of Commerce, Government of India. Apart from being on the
Board of Directors of Exim bank, Dr. Bhattacharjea is also a
member of the Standing Committee on Industrial Statistics,
Ministry of Statistics and Programme Implementation,
Government of India.

37

PERFORMANCE HIGHLIGHTS
(RS. IN MN),

THE PAST DECADE

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Cumulative Growth
(2003-2013) (CAGR)

LOANS
15853
26762
33628
47798
41918
204887
328045
388430
444119
5
2
5
4
5

3117748

17

22076
28932
34423
40634
271587
332485
370451
0
7
3
9

2569508

22

Approvals

92657

Disbursements

69575 114352 150389

Loan Assets 1

107751

12910
22886
34156
45655
64353
175931
287767
390357
538898
4
2
4
8
0

Approvals

10792

15887

43264

49978

21994

16184

13508

32165

27549

58075

289396

21

Issuance

5743

16602

21959

16972

20386

10315

3875

11535

13611

29378

150376

20

Guarantee Portfolio

15769

23727

34023

35360

34556

35401

22736

30557

32407

47440

Paid-up Capital

6500

8500

9500

10000

11000

14000

17000

20000

23000

30594

Reserves

14933

16625

17703

18741

21064

24681

28316

32302

37003

41796

Borrowings 2

119206 120118 160090

Total Resources

155192

22

GUARANTEES

13

RESOURCES

21661
37202
47191
64484
317163
405088
546546
6
3
8
8

15692
26243
44201
54750
201401
373006
470715
636730 761182
2
9
7
8

PERFORMANCE
Profit Before Tax
(PBT)

3042

3144

3769

3909

5334

6101

7724

8677

10126

10888

62714

Profit After Tax

2292

2579

2707

2994

3330

4774

5135

5836

6751

7423

43821

Balance of Net
Profits transferred /

470

654

868

956

1008

1157

1500

1850

2050

2630

13143

38

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Cumulative Growth
(2003-2013) (CAGR)

transferable to
Central Government
Staff (Numbers) 3

190

193

200

212

222

232

232

244

253

275

Capital to Risk
Assets Ratio (%)

23.5

21.6

18.4

16.4

15.1

16.8

18.9

17.0

16.4

15.3

PBT to Capital (%)

46.8

41.9

41.9

40.1

50.8

48.8

49.8

46.9

47.1

40.6

PBT to Net Worth

(%)

14.2

13.5

14.4

14.0

17.5

17.2

18.4

17.8

18.0

16.4

PBT to Assets (%)

2.2

2.0

2.1

1.7

1.7

1.5

1.7

1.7

1.7

1.6

PBT per Employee

(Rs. mn)

17.0

16.4

19.2

19.0

24.6

26.9

33.3

36.5

40.7

41.2

RATIOS

Loan Assets are net of provisions for NPAs effective 2004-05

Borrowings include Deposits which are net of Reciprocal deposits

placed / Investments made with counter-parties for the years 2004-05 to
2006-07
3

Denotes number of employees in the service of Exim Bank

RESEARCH & ANALYSIS

Exim Banks Research & Analysis Group (RAG) offers a vast range of
research products. The Banks team of experienced economists and
strategists provide insights on aspects of international economics, trade
and investment through qualitative and quantitative research techniques.
39

RAG monitors the global trends in the world and domestic economies
and the impact of these trends, especially on India and other developing
economies. RAG caters to the constituents within the Bank, as well as to
those external to the Bank such as Government, RBI,
exporters/importers, trade & industry associations, external credit
agencies, academic institutions and researchers.
The research work carried out in the Group under the broad
classification of regional, sectoral and policy related studies, are
published in the form of Occasional Papers, Working Papers, Books, etc.
These research studies primarily envisage identifying avenues for
enhancing India's international engagement.
The group also undertakes country profiles, which assess the economic,
political, currency and credit risks involved, along with the export
opportunities in the country concerned. Further the profiles provide
short-to-medium term economic outlook of a country, indicating the
economic risk involved in doing business with country.
Further, the group also prepares exposure limit for countries of business
interest to the Bank, and similarly tracks development in the key
industries for the benefit of the Bank's business exposure in these
industries.
As a part of the support services and with an objective to provide
contemporary information to Indian traders and investors, the group
disseminates information on export opportunities and highlights
developments that have a bearing on Indian exports, through its
quarterly bulletin, Eximius: Export Advantage. The newsletter comprises
of regional and industry outlooks, Banks activities, opportunities in
multilateral funded projects and contract awards, review on select traded
currencies and countries, and a section on the happenings during the
quarter. The newsletter is a free publication, effectively distributed to a
wide network of scholars, economists, institutions, Government of India
offices, and export promoting organisations.
40

The Bank also brings out a bi-monthly publication titles Agri Export
Advantage in English, Hindi and 10 regional languages (Assamese,
Bengali, Gujarati, Kannada, Marathi, Malayalam, Oriya, Punjabi, Tamil,
and Telegu). The newsletter provides stakeholders of Indian agribusiness
with updates on global agri-environment and markets, research reports
on agri-commodities, international issues related to agri-business,
prospective areas of agribusiness, agricultural trade and trade policies,
regulatory issues in international trade, WTO Government schemes and
assistance, latest international news brief and Bank's activities to
promote agri-export from India.
The Bank Brings out a bilingual Indo-China Newsletter featuring areas
of cooperation between India and China.
The group also undertakes customised research on behalf of interested
companies in areas such as establishing market potential, defining
marketing arrangements and specifying distribution channels. We also
assist companies in developing export market Entry plans.

MARKETING ADVISORY SERVICES

ABOUT THE PROGRAMME:
Exim Bank plays a promotional role and seeks to create and enhance
export capabilities and international competitiveness of Indian
companies. Exim Bank through its Marketing Advisory Services [MAS]
helps Indian exporting firms in their globalisation efforts by proactively
assisting in locating overseas distributor(s)/buyer(s)/ partner(s) for their
products and services. The Bank assists in identification of opportunities
overseas for setting up plants or projects or for acquisition of companies
overseas. MAS Group leverages the Bank's high international standing,
indepth knowledge and understanding of the international markets and
well established institutional linkages, coupled with its physical
presence, to support Indian companies in their overseas marketing
initiatives on a success fee basis. The fees for Marketing Advisory
41

Service is payable in Indian Rupees and applies to the subsequent orders

from the client introduced by the Bank for a period of atleast 2 years.
Exim Bank has been able to successfully place a range of products in
overseas as well as domestic market. The products list includes
Handmade Paper, Handicrafts, Vegetables and Fresh Fruits, Garments,
Home Dcor, Marine Products, Spices and Agri Equipments etc which
were placed in Singapore, Africa, Brazil, Middle East, and US. MAS
Group also organizes workshops and supporting events for facilitating to
design and package their products for the international markets.

ELIGIBILITY :
Any company/firm wanting to export its quality products/services is
eligible to avail this benefit as long as it is not falling in the negative list
of India's Foreign Trade Policy and International Conventions. MAS is
provided across all the sectors. Information required from the company
is as under:
Company profile

Product Brochures

Printed material

Prices

Existing export markets & target markets

Minimum order quantity

Quality certifications

Samples, as and when required

EXPORT ADVISORY SERVICES GROUP (EAS)
The Export Advisory Services Group [EAS] offers a diverse range of
information, advisory and support services, which enable exporters to
evaluate international risks, exploit export opportunities and improve
competitiveness. Value added information and support services are
42

provided to Indian projects exporters on the projects funded by

multilateral agencies.
The Group undertakes customised research on behalf of interested
companies in the areas such as establishing market potential, defining
marketing arrangements, and specifying market distribution channels.
Developing export market entry plans, facilitating accomplishment of
international quality certification and display of products in trade fairs
and exhibitions are other services provided.
The Bank provides a wide range of information, advisory and support
services, which complement its financing programmes. These services
are provided on a fee basis to Indian companies and overseas entities.
The scope of services includes market-related information, sector and
feasibility studies, technology supplier identification, partner search,
investment facilitation and development of joint ventures both in India
and abroad. During the year, the Bank provided a range of services to
companies. Information in the form of a list of importers / exporters
across different industries and sectors was provided to Indian firms
active in international trade

43

MULTILATERAL FUNDED PROJECTS OVERSEAS (MFPO)

The Bank provides a package of information and support services to
Indian companies to help improve their prospects for securing business
in projects funded by the World Bank, Asian Development Bank,
African Development Bank, and European Bank for Reconstruction and
Development. During the year, the Bank disseminated information on
44

numerous overseas business opportunities to various Indian companies

covering various sectors including transportation, construction,
telecommunication, energy, infrastructure, educational and information
technology.
EXIM BANK AS A CONSULTANT
The Banks experience in evolving as an institution supporting
international trade and investment, in addition to functioning as an
export credit agency in a developing country context, is of particular
relevance in other developing countries. The Bank has been sharing its
experience and expertise by undertaking consultancy assignments. Exim
Bank also shares its experience and expertise through provision of onsite exchange of personnel programmes aimed at providing a first-hands
experience to the employees of its institutional partners.
INSTITUTIONAL LINKAGES
The Bank has fostered a network of alliances and institutional linkages
with multilateral agencies, export credit agencies, banks and financial
institutions, trade promotion bodies, and investment promotion boards to
help create an enabling environment for supporting trade and
investment.
GLOBAL NETWORK OF EXIM BANKS AND DEVELOPMENT
FINANCIAL INSTITUTIONS
The Global Network of Exim Banks and Development Finance
Institutions (G-NEXID) was set up in Geneva in March 2006 through
the Banks initiative, under the auspices of UNCTAD. With the active
support of a number of other Exim Banks and Development Finance
Institutions from various developing countries, the network has
endeavoured to foster enhanced South-South trade and investment
cooperation, characterized among others, by the launching of the GNEXIDs website (www.gnexid.org) and annual meetings of the Forum.
Observer Status in UNCTAD underscores support for the Forum, while
acceptance of the accrued benefit of the Forum by developing countries

45

can be assessed from the fact that the members continued to extend their
active participation in the year 2012-13 also.
AWARD FOR EXCELLENCE
The Bank, in association with CII, has instituted an Annual Award for
Business Excellence for best Total Quality Management (TQM)
practices adopted by an Indian company. The Award is based on the
European Foundation for Quality Management (EFQM) model.
TERM DEPOSIT SCHEME
The Export-Import Bank of India (Exim Bank) was established by an
Act of Parliament known as the Export-Import Bank of India Act 1981
and commenced operations in March 1982. Exim Bank is wholly owned
by the Government of India. Exim Bank was set up for providing
financial assistance to exporters and importers and for functioning as the
principal financial institution for coordinating the working of institutions
engaged in financing export and import of goods and services with a
view to promoting the country's international trade. It has a highpowered Board of Directors comprising : A Deputy Governor of Reserve
Bank of India, Chairmen of IDBI, ECGC, Representatives of the
Ministries of Finance, Commerce, Industry, External Affairs and
Planning, Chairmen of scheduled banks and professionals from trade
and industry.
The Bank is no longer merely an export finance source, but is involved
in creation of export capabilities

FINANCIAL HIGHLIGHTS
Rs. Crs.

Paid up Capital

2005-06

2006-07

2007-08

2008-09

2009-10

2010-11

2011-12

949.99

999.99

1,099.99

1,399,00

1,699.99

1,999.99

2,299.99
46

Reserves

1,770.31

1,874,10

2,106.38

2,468.09

2,831.56

3,230.56

3,700.27

Net Profit

270.74

299.41

333.05

477.41

513.50

583.60

675.10

Loan Outstandings

18,028.09 22.886.24 28,776.66 34,156.45 39,035.68 45,655.80 53,889.78

Staff (Numbers)

200

212

217

227

232

244

253

SCHEME FEATURES
Flexibility
The benefit of future increases in interest rates will be available to the
existing term deposits for the residual period (above one year) till
maturity at the interest rate applicable to the residual maturity period,
without
any
action
on
the
part
of
the
depositor.
In case the existing rate on a deposit (contracted based on original
maturity at the time of placing deposit) is higher than the revised rate
applicable to the residual tenor, then the original higher rate would
continue
to
apply.
The above flexibility is available only on deposits placed by
individuals/NRIs/trusts/HUFs
and
superannuation
funds.
Interest rate on 3-year and 5-year floating rate term deposits could be
benchmarked to 3-year and 5-year G-sec rates respectively.

*Interest Rate effective from January 16, 2013

47

TENOR

RATE OF INTEREST
UP TO ONE CRORE

RATE OF INTEREST
ABOVE ONE
CRORE*

12 months to (less
than equal to) 36
8.75% p.a.
months

8.00% p.a.

> (greater than) 36

months to 60
Months

8.25% p.a.

9.00% p.a.

* Subject to prior consent of Exim Bank.

Senior citizens (Persons of above 60 years of age) and disabled persons
are paid additional 0.50%p.a. These rates may be made applicable only
for individuals, HUF, NRIs (on non- repatriable basis only) who are
citizens of India, Army / Defence Regimental Funds, Army Group
Insurance Funds, Departments of Central Government and Reputed
Education / Research Institutions. These rates may also be made
applicable to PF / Superannuation Fund Trusts whose investment norms
permit investments in Term Deposits of Public Financial
Institiutions.The interest rate to corporates / Trusts / Any other category
of investor will continue to be quoted depending upon market conditions
and fund requirement of Exim Bank.
NOTE

Interest compounded on quarterly basis.

Minimum Deposit of Rs.10,000/- and in multiples of Rs.1,000/thereafter.

Interest is subject to deduction of tax at source, wherever

applicable.

Cheques/Demand Drafts to be drawn favouring 'Exim Bank Term

Deposit Account'.
48

EXISTING FEATURES

Deposits under the Export-Import Bank of India (EXIM BANK)

Term Deposit Scheme ("the Scheme"), shall be accepted by EXIM
Bank subject to the following terms and conditions :

Denomination : Deposit shall be accepted in multiples of

Rs.1,000/- subject to a minimum of Rs.10,000/-. Renewal may be done
for the maturity value of the old deposit. There is no maximum limit on
the amount or number of deposits.

Period of Deposit : Deposit shall be accepted for a minimum

period of one year and a maximum period of five years.

Rate of Interest : Interest shall be payable at the rate(s) to be

decided from time to time by FMC. Additional interest to senior
citizens and staff shall be paid as per decision of FMC.
TERM & CONDITIONS

The Deposit Receipt is non-transferable and non-negotiable.

The Deposit Receipt is valid subject to realisation of the

cheque/demand draft/pay-order through which the deposit is tendered.

In the case of Non-Cumulative Interest Option, Interest shall be

payable half-yearly on the 1st day of April and October in each year
and at maturity. In the case of Cumulative Interest Option, Interest shall
be paid alongwith the deposit amount at maturity . Interest will cease to
accrue at maturity unless the deposit is renewed. Interest option once
opted cannot be changed during the tenor of the deposit.

Exim Bank may, from time to time, add to, amend or alter all or
any of the terms of the Scheme or otherwise discontinue the Scheme
without notice to the depositor(s) and repay the deposits prematurely,
in order to comply with guidelines/directives of the Government,
Reserve Bank of India or any other regulatory body. The rate of interest
49

on the deposit is subject to change pursuant to the directives of the

Reserve Bank of India.
The Deposit Receipt duly discharged by the first-named depositor
on revenue stamps of requisite value must be surrendered to Exim
Bank for repayment at least three weeks before the maturity date. In the
case of renewal deposit, a fresh application accompanied by the
discharged Receipt and differential payment, if necessary, in the case of
Cumulative Interest Option, must be received by Exim Bank three
weeks before the maturity date.
All payments in respect of deposit in the joint names will be made
by Bank to the first-named depositor. In the event of death of the firstnamed depositor, the amount of principal and interest accrued, if any,
will be paid by Exim Bank to the survivor or the person first in the
order of survivors on production of the death certificate of the deceased
depositor and such other documents as may be deemed necessary by
Exim Bank.
Upon death of a sole depositor, payment of principal and interest
accrued, if any, will be payable by Exim Bank to the registered
nominee, if appointed; otherwise, such payment will be made to the
heir(s)/legal representative(s) of the deceased depositor on production
of proper legal representation to the satisfaction of Exim Bank.
Deduction of Income-tax at source from interest payments shall be
governed by the provisions of the Income Tax Act, 1961, as in force
from time to time, and the Rules framed thereunder.
Any dispute or claim arising from acceptance, renewal or payment
of deposits including interest under the Scheme shall be subject to the
exclusive jurisdiction of the Courts at Mumbai.

GENERAL INSTRUCTIONS

Application in the prescribed Form must be completed in full in

BLOCK LETTER. PREFIXES such as Shri/Smt. shall not be repeated
while filling in names. A blank space must be left between two or more
parts of the name e.g. AMAR JAGDISH SHAH. The depositor(s)
50

should tick the appropriate boxes provided in the Application Form.

Where alternatives are given e.g. Shri/Smt. the depositor(s) should
delete those which are not applicable.
Depositors may apply for placing the deposit under either of the
two interest options available under the Scheme. SEPARATE
APPLICATION FORM MUST BE USED FOR THE DEPOSIT
UNDER EACH OPTION. The depositor(s) should clearly indicate the
Option selected in the Application. If no option is selected, the deposit
shall be treated as intended to be placed under Cumulative Interest
Option.
In the case of HUF, the name of the Karta should be mentioned in
the space provided for filling in the name of the Depositor(s). The
name of HUF should be specified separately as indicated in the Form.
The Application Form should be signed by the Karta on behalf of HUF.
All payments/repayments and communication will be sent to the Karta.
The depositor(s) should clearly indicate in the Payment
Instructions the person to whom interest and principal amount of
deposit (in the event of death of the sole/first-named depositor) shall be
paid, by ticking the relevant box. All communications and
payments/repayments will be sent to the sole/first-named depositor.
In the case of Application made under Power of Attorney or by
judicial persons, such as Limited Company, Corporate Body, Society,
Trust or an Association of Persons, a certified true copy of the Power of
Attorney or relevant authority to place the deposit, as the case may be,
shall accompany the Application Form and the Application Form shall
be signed by the constituted attorney or the authorised signatory/ies, as
the case may be.
Signature(s) on the Application Form shall be in English or in any
of the Indian languages. If the signature is by thumb impression, it
must be attested by an authorised official of a Bank or by a
Magistrate/Notary Public under his/her official seal.
Application Form complete in all respects shall be submitted at any
of the offices of Exim Bank /collecting centers accompanied by
payment of the deposit amount by means of a crossed "Account Payee"
51

cheque/demand draft/pay-order favouring "Exim Bank - Term Deposit

A/c." . A separate cheque/demand draft/pay order must accompany
each Application Form. The tenor of Term Deposit will commence
from the date of realization of cheque.

Incomplete Application is liable to be rejected and Exim Bank

would not be responsible for consequences thereof. Exim Bank
reserves the right at its sole and absolute discretion to reject any
Application for a fresh deposit or for renewal without assigning any
reason in which event the amount of deposit received by Exim Bank
will accordingly be refunded without interest to the sole/first-named
depositor.

Receipt of Application Form will be acknowledged in the

'Acknowledgement Slip' appearing below the Application Form by the
Office of Exim Bank /Arrangers to the Deposit Scheme to whom the
Application shall be submitted. The Acknowledgement Slip will be
made out in favour of the sole/fist-named depositor and shall bear the
date and stamp of Exim Banks Office/Arrangers to the Deposit
Scheme.
Government of Maharashtra has declared Term Deposit Scheme of Exim
Bank as "Public Securities" under section 2(12) d of the Bombay Public
Trust Act, 1950.

52

PRESS RELEASES
Exim Bank Extends Two LOCs Of USD 198.96 Million And USD 155
Million To Myanma Foreign Trade Bank (MFTB), Myanmar For
Financing 18 Irrigation Projects (16 Ongoing And 2 Rehabilitation) And
Procurement Of Rolling Stock Equipment And Upgradation Of Three M
Exim Bank CMD, Shri T. C. A. Ranganathan, Retires Shri Anurag Jain
Assumes Charge As CMD, Exim Bank
Exim Bank Inks Pact For Export Targeted Modern Irrigated Agricultural
Project In The Republic Of Rwanda
Exim Banks Study Highlights Indias Trade and Investment Potential in
the CLMV Region
Exim Bank Inks Pact For Power Transmission And Distribution Project
In The Republic Of Liberia
Exim Bank Extends A USD 34.54 Million Line Of Credit To The
Government Of Niger For Solar Electrification Of 30 Villages And
Setting Up Solar Photo Voltaic System Of 5 Megawatt In Niger
EXIM BANK EXTENDS USD 30.94 MILLION LOC TO LAO PDR
FOR CONSTRUCTION OF STORAGE DAMS AND
DEVELOPMENT OF IRRIGATION SYSTEMS IN FOUR MAJOR
PROVINCES IN LAO PEOPLES DEMOCRATIC REPUBLIC (PDR)
EXIM BANK EXTENDS USD 42.61 MILLION LOC TO BENIN FOR
UP-GRADATION OF WATER SUPPLY SCHEMES IN 69 VILLAGES
IN BENIN
Exim Bank of India opens its Representative Office in Yangon,
Myanmar
EXIM BANK SIGNS MOC WITH WOMEN ON WINGS
Exim Bank pays ` 263 crore to Government as Balance of Net Profit

53

Exim Bank Extends USD 10 Million LOC To Nicaragua For Financing

The Supply Of Equipment From India For Building Two Electric SubStations In Nicaragua.
Exim Bank Extends USD 19.50 Million LOC To Vietnam For Financing
Two Projects In Vietnam
Exim Bank Extends Three Lines Of Credit Aggregating USD 216.44
Million To Mozambique
Exim Bank Extends USD 28.60 Million LOC To Zimbabwe For UpGradation Of Deka Pumping Station And River Water Intake System In
Zimbabwe
Exim Bank Receives The Banking License For Opening Of Its
Representative Office In Yangon, Myanmar
Exim Bank To Finance New Ethio-Djibouti Railway Line [The AsaitaTadjourah Portion] Project In Ethiopia
Exim Bank receives special 'Plaque of Merit' from ADFIAP for its
Programme for Financing Creative Industries
Exim Bank Of India's Study Highlights India's Trade Potential With
Select Countries In Africa
Exim Bank Posts Strong Business Growth Despite Challenging
Environment In 2012-13
Prof. Pranab Bardhan delivers Exim Bank's Commencement Day
Lecture
Exim Bank Extends USD 41.60 Million LOC To Comoros For
Installation Of An 18 Mw Power Project In Moroni, The Capital City Of
Comoros
Exim Bank Extends USD 22.50 Million LOC To Burkina Faso For
Financing A Low Cost Housing And Economical Buildings' Project In
Burkina Faso
Exim Bank Extends A USD 19 Million Line Of Credit To The
Government Of Senegal For Financing Fisheries Development Project
In Senegal

54

Exim Bank Extends A USD 10 Million Line Of Credit To The

Government Of Seychelles For Financing Import Of Goods And
Services From India For Specific Projects Funded By Development
Bank Of Seychelles
Exim Bank Extends USD 35 Million LOC To Ghana For Financing A
Sugar Plant Project In Ghana
Exim Bank Extends A USD 76.50 Million Line Of Credit To The
Government Of Malawi For (A) Development Of Irrigation Network
Under Greenbelt Initiative; (B) Setting Up Of Refined Sugar Processing
Equipment In Salima Under Greenbelt Initiative; And (C) Devel
Exim Bank Extends A USD 5 Million Line Of Credit To The
Government Of Cuba For Financing The Setting Up Of A Milk Powder
Processing Plant In Camaguey Province Of Cuba
Exim Bank Extends USD 37.90 Million LOC To Swaziland For
Agriculture Development And Mechanization Of Agriculture In
Swaziland
Exim Bank's Study Highlights India's Trade and Investment Potential in
the Indian Ocean Rim Region
Exim Bank Extends USD 178.125 Million LOC To Tanzania For
Augmentataion Of Water Supply Schemes Of Dar Es Salaam And
Chalinzi Regions In Tanzania
Exim Bank Extends USD 250 Million LOC To Mozambique For
Improving The Quality Of Power Supply In Mozambique
Exim Bank Extends USD 42 Million LOC To Cameroon For Cassava
Plantation Project In Cameroon
Exim Bank Extends USD 15 Million LOC To Benin For Tractor
Assembly Plant And Farm Equipment Manufacturing Unit In Benin
Exim Bank Inks Loan Agreement with Traditional Ayush Cluster of
Tamilnadu
Exim Bank Inks Loan Agreement with Traditional Ayush Cluster of
Tamilnadu
Exim Bank Extends USD 18.08 Million LOC To Chad For
Pharmaceutical Manufacturing Plant In Chad
55

Exim Bank Announces the Winner of IEDRA (International Economic

Development Research Annual) Award 2011
Technological interventions needed for increasing crop productivity:
Exim Bank Study
Exim Bank Of India And Myanma Foreign Trade Bank Ink Mou For A
Line Of Credit Of Usd 500 Million
Exim Bank Declares Annual Results For 2011-12
Exim Bank raises US$ 124 mn through the first ever Indian issue of
Uridashi bonds in the Japanese retail market
Exim Bank Extends Line Of Credit Of USD 50 Million To The
Government Of Zambia For Pre-Fabricated Health Posts In Zambia
Exim Bank To Assist Sugar Industry Rehabilitation In Ethiopia
Exim Bank Of India Signed Two Financial Cooperation Agreements
With Other Member Development Banks Of BRICS Nations
Exim Bank of India's Study Highlights India's Trade and Investment
Potential in the SADC region
Exim Bank Extends Two Lines Of Credit Of USD 20 Million And USD
39.69 Million To The Government Of The Central African Republic
Exim Bank Extends USD 382.37 Million LOC To Sri Lanka For
Financing Various Projects In Sri Lanka
Exim Bank Extends USD 40.32 Million LOC To Chad For Financing
Various Projects In Chad
Exim Bank Extends USD 13.095 Million LOC To Togo For Financing
Farming And Cultivation Of Rice, Maize And Sorghum In Togo
David Rasquinha Appointed As Executive Director of Export-Import
Bank Of India
Exim Bank Extends A USD 100 Million Line Of Credit [LOC] To The
Republic Of Mali
Exim Bank Extends A USD 70 Million Line Of Credit [Loc] To The
Republic Of Congo
Exim Bank Extends USD 15 Million LOC To Togo For Financing Rural
Electrification Project In Togo
56

Exim Bank Of India's Study Highlights India's Trade And Investment

Potential In The LAC Region
Exim Bank Extends A USD 20 Million Line Of Credit [LOC] To The
Nigerian Export-Import Bank
Exim Bank Extends A USD 20 Million Line Of Credit [LOC] To The
Nigerian Export-Import Bank
Intra-Commonwealth trade has huge growth potential: Exim Bank study
Exim Bank Extends A USD 250 Million Line Of Credit To The
Government Of Nepal For Financing Infrastructure Projects In Nepal
Exim Bank Extends A USD 13 Million Line Of Credit To The
Government Of The Republic Of Mozambique For Financing A Solar
Photo Voltaic Module Manufacturing Plant In Mozambique
Exim Bank Extends A USD 40 MN Line Of Credit To The Government
Of The Republic Of Maldives For Construction Of 500 Housing Units In
The Maldives
Exim Bank Announces The Winner Of IEDRA (International Economic
Development Research Annual) Award 2010
China needs to rebalance its economy but must not focus only on
monetary measures, says Prof. Yu Yongding at Exim Bank's
Commencement Day Lecture
Exim Bank Extends Loc Of USD 150 Million To West Africa's Regional
Bank
Exim Bank Extends A USD 168 Million Line Of Credit To The
Government Of The Democratic Republic Of Congo For Financing The
Ketende Hydro-Electric Project In Democratic Republic Of Congo
Exim Bank Pays ` 185 Crore To Government Towards Return On
Capital
Exim Bank awarded First Prize under RBI's Rajbhasha Shield
Competition.
Electronics industry need to focus on designing and manufacturing :
Exim Bank's Study

57

Exim Bank of India and the National Bank for Foreign Economic
Activity of the Republic of Uzbekistan Ink Cooperation Pact
Exim Bank Extends USD 27.50 MN LOC To The Senegal For Financing
Rural Electrification Project In Senegal
Exim Bank Launches New Product To Boost Project Exports From India
Exim Bank Of India's Study Highlights India's Trade And Investment
Potential In The West African Region
Exim Bank Extends USD 20 MN LOC To Swaziland For The Purpose
Of Financing Setting Up Of An Information Technology Park In
Swaziland
Exim Bank Extends USD 20 MN LOC To Swaziland For The Purpose
Of Financing Setting Up Of An Information Technology Park In
Swaziland
Exim Bank's Line Of Credit (LOC) Of USD 36.56 MN To The
Government Of Tanzania For Financing Purchase Of Vehicles
Exim Bank Extends USD 20 MN LOC To Mozambique For Enhancing
Productivity Of Rice- Wheat- Maize Cultivation In Mozambique
Exim Bank To Assist Sugar Industry Rehabilitation In Ethiopia
Exim Bank receives Vice President of Uruguay: Signs Cooperation
Memorandum with Republic Bank
Renewable energy finds many takers; competes with fossil fuel: Exim
Bank study
Exim Bank Extends USD 14 MN LOC To Djibouti
Exim Bank Signs MoC With Cluster Pulse
Exim Bank Inks USD 50 Million Pact With Malawi For The Purpose Of
Financing (I) Cotton Processing Facilities, (Ii) Green Belt Initiative, And
(Iii) One Village One Product Project In Malawi
Exim Bank of India's Study Highlights India's Trade and Investment
Potential in the CARICOM Region
Indian Shipping Industry: A catalyst for Growth: Exim Bank Research
Study
58

Exim Bank inks USD 48.50 million pact with Mauritius for financing an
offshore patrol vessel
Exim Banks Of India And South Korea Ink Cooperation Pact
Exim Bank signs MoU With IL&FS Clusters For Financing Infra
Projects in SMEs
Exim Bank Extends Loan Of Rs 50 Crore To Mahindra Reva
Exim Bank Medium Term Note Programme Enhanced To US$ 2.5
Billion
Exim Bank Of India Signs MOU With China Development Bank
Exim Bank To Assist Sugar Industry Rehabilitation In Ethiopia
Exim Bank Inks USD 416.39 MN Pact With Sri Lanka For Financing
Railway Projects
Exim Bank Inks USD 61.60 MN Pact With Kenya For Financing Power
Transmission Lines
Exim Bank Extends LOC Of USD 100 MN To West African Regional
Bank
Exim Bank Of India Announces Commencement Of Business Of Its
London Branch
Exim Bank Of India Signs Cooperation Agreement With Korea TradeInvestment Promotion Agency
Exim Bank of India's Study Highlights India's Trade and Investment
Potential in the COMESA Region
Exim Bank Opens East Africa Office
Exim Bank Signs Agreement With Cambodia During The President's
Visit
Exim Bank Inks Pact With LAO PDR During The President's Visit
Exim Bank Inks Pact With LAO PDR During The President's Visit
Exim Bank Extends US$ 42 MN LOC To Democratic Republic Of
Congo
Exim Bank Inks Pact With Bangladesh
Exim Bank Inks Pact With Bangladesh
59

Exim Bank Extends US$ 25 MN Credit Line To A Regional Bank In

Africa
The UK Chancellor of the Exchequer announces authorization of Exim
Bank Branch in London
Exim Bank Inks Two Pacts With Angola For Financing An Industrial
Park And A Textile Project
Exim Bank Announces The Winner Of IEDRA (International Economic
Development Research Annual) Award 2009
Exim Bank Extends USD 25 MN LOC To Mozambique To Finance
Rural Electrification
Exim Bank to open East Africa Regional Office in Ethiopia
Exim Bank receives ADFIAP Trade Development Award 2010 in
Vancouver
Exim Bank Extends US$ 21.72 MN LOC To The Government Of Ghana
Exim Bank Declares Annual Results For 2009-10
Exim Bank Inks Cooperation Pact With Development Banks Of BRIC
Countries
Exim Bank's US$ 200 Mn Issue Receives Around Four Times
Subscription
Exim Bank Signs US$ 30 MN Line Of Credit Pact With Government Of
Cote D'ivoire
World Floriculture Trade Is Expected To See Newer Dimensions : Exim
Bank Study
Exim Bank of India Now in Chandigarh
Exim Bank Signs US$ 5 MN Line Of Credit Pact With Government Of
Senegal
Exim Bank Commencement Day Annual Lecture 2010
Exim India's Study highlights India's trade and investment Potential in
the SADC Region
Exim Bank Extends Us$ 67.40 Million LOC To Sri Lanka To Finance
Railway Upgradation
Exim Bank Extends Line Of Credit To Lesotho
60

Exim Bank Signs US$ 30 MN LOC Pact With Government Of Sierra

Leone
Exim Bank Releases a Sector Study on Gems and Jewellery
Exim Bank's Eurodollar Issue Receives Over Five Times Subscription
Exim Bank Inks US$ 21.80 MN LOC Pact With Government Of
Mauritania
Indian Biotechnology Industry Poised for Further Growth: EXIM Bank
Research Study
Exim Bank To Assist Power Project In Rwanda
Exim Bank Inks US$ 50 MN Pact With Zambia For Financing A Power
Project
Exim Bank Inks US$ 30 MN LOC Pact With Government Of Cte
D'ivoire
Exim Bank Inks US$ 100 MN LOC Pact With
VNESHECONOMBANK Of Russia
Exim Bank Seminar on Business Opportunities with Asian Development
Bank
Exim Bank Seminar Motivates Indian Companies to Look at
Opportunities in Central and East Europe, and Central Asian Regions.
Indian Companies Urged to Look at Africa for Business Opportunities
Exim Bank & African Development Bank to Co-Finance Projects in
Africa
Exim Bank CMD, Shri T.C. Venkat Subramanian, Retires
Prabhakar Dalal Appointed As Executive Director Of Export-Import
Bank Of India
Exim Bank Extends US$ 15 MN LOC To Benin
Exim Bank Extends US$ 100 MN LOC To Government Of Syria
Exim Bank Extends US$ 36 MN LOC To Government Of Mali
Exim Bank Signs Memorandum Of Cooperation With Ashra - The Israel
Export Insurance Corporation For Supporting Bilateral Trade And
Investment Relations
61

Exim Bank Extends US$ 25 MN LOC To Democratic Republic Of

Congo
Exim Bank Study highlights Export Potential of Sikkim
Exim Bank Extends Line Of Credit Of US$ 20 Million To ERITREA
Exim Bank Study highlights Export Potential of Mizoram
Exim Bank Study on Micro, Small and Medium Enterprises Released at
the Commonwealth Conference on Small Business Competitiveness
Development Programme
Exim Bank Announces The Winner Of International Economic
Development Research Annual (IEDRA) Award 2008
Join A Bank That Has International Focus
Exim Bank Declares Annual Results For 2008-09
Exim Bank Extends USD 30 Mn LOC To Mozambique To Finance
Rural Electrification
Exim Bank Extends Line Of Credit Of US$ 37.65 Million To Cameroon
Exim Bank Extends Line Of Credit Of US$ 25 Million To Burkina Faso
Automotive Industry Needs to Focus on Skill Upgradation, Market
Research, Product Development and Customer Interactions: Exim Bank
Study
Exim Bank And Lao PDR Ink Agreement
Exim Bank To Finance A Petrochemical Complex In Myanmar
Exim Bank To Assist Sugar Industry Rehabilitation In Ethiopia
Exim Bank Extends US$ 25 MN LOC To Government Of Sudan
Exim Bank Signs Euro 150 Million Framework Loan Agreement With
European Investment Bank
Exim Bank Extends US$ 25 MN LOC To Government Of Madagascar
Exim Bank Extends US$ 29.5 MN LOC To Central African Republic
Exim Bank Extends US$ 20 MN LOC To Niger
Exim Bank Extends US$ 25 MN LOC To Ghana
Exim Bank Of India And Lao Pdr Ink Credit Agreement
62

Players In Capital Goods Industry Need To Transform Into Service

Oriented Organisations: Exim Bank Study
Exim Bank Of India Extends A Line Of Credit Of US$ 10 MN To
National Bank Of Uzbekistan
EXIM Bank pays Interest @ 10% p.a on Term Deposits
Exim Bank Extends US$ 100 Million LOC To Gambia
Exim Bank Announces The Winner Of International Economic
Development Research Annual (IEDRA) Award 2007
Exim Bank Inks Two Pacts For US$ 84 Million With Myanmar
Exim Bank Extends US$ 25.50 MN LOC To Cote D'ivoire
Exim Bank Extends US$ 25 MN LOC To Syria
Exploration Holds The Key For Growth In Indian Mineral Sector: Exim
Bank Study
Exim Bank Extends US$ 10.59 MN LOC To Suriname
Exim Bank To Finance Water Drilling Technology Project In
Mozambique
Exim Bank Extends US$ 30 MN LOC To Malawi
Exim Bank Declares Annual Results For 2007-08
Exim Bank supports Rugby Team of the Kalinga Institute of Social
Sciences
Exim Banks of India and Africa Ink Pact
Exim Bank - Ministry of Panchayati Raj sign Memorandum of
Cooperation
Exim Bank Commencement Day Annual Lecture 2008: Mr. Kemal
Dervis' Perspectives on the New Structure of the World Economy, at
Exim Bank's Lecture
India Has Potential To Be An Ideal Healthcare Destination: Exim Bank
Study
Exim Bank Inks Agreement With Gabon To Finance A Housing Project
Exim Bank - Ministry of Panchayati Raj sign Memorandum of
Cooperation
63

Exim Bank Extends US$ 10.4 Mn LOC To Suriname

India's Success Story In Software And ITES To Continue In Knowledge
Process Off-Shoring Segment: Exim Bank Study
Exim Bank And Government Of Vietnam Ink Pact To Finance A Power
Project
Regional Trade Agreements Could Act As An Effective Gateway To
Global Trade: Exim Bank Study
Exim Bank And International Finance Corporation Launch Global Trade
Finance Program In India
Exim Bank - Asian Development Bank Seminar Highlights Business
Opportunities For Indian Firms
Exim Bank - The Ceylon Chamber Of Commerce Enter Into A
Cooperation Pact
Exim Bank Extends Line Of Credit Of US$ 35.20 MN To Cambodia
Exim Bank Extends US$ 15 MN Credit Line To A Regional Bank In
Africa
Exim Bank Extends Line Of Credit To Finance A Power Project In
Myanmar
Exim Bank Study Highlights Favourable Global Trends For Indian
Pharmaceutical Industry
Exim Bank Extends Line Of Credit To Finance A Power Project In
Rwanda
Exim Bank To Assist Sugar Industry Rehabilitation In Ethiopia
Exim Bank Extends US$ 100 Mn Credit Line To Nepal
Indian And Nigerian Exim Banks Ink Pact In ACCRA
EXIM BANK DECLARES ANNUAL RESULTS FOR 2005-06
Exim Bank Extends US$ 45 MN Government of Mali
Exim Bank-Gulf Investment Corporation (GIC) signs Cooperation
Memorandum
Exim Bank Extends US$ 52 MN Credit Line To Sudan

64

Dr. David Hulme Highlights India's Role in Global Poverty Reduction at

Exim Bank's Lecture
Exim Bank Extends Us$ 10 Mn Credit Line To Senegal
Exim Bank's authorised capital increased by Rs. 1000 crores to Rs. 2000
crores
Exim Banks of India and Africa sign Cooperation Memorandum
Exim Bank Declares Annual Results for 2006-07
Exim Bank Extends Fresh Credit Lines To Mali And Djibouti
Exim Bank Study Highlights Growing Global Opportunities For Indian
Construction Companies
Exim Bank has been raising CPs/CDs/Bonds/loans at bench-mark rates
Exim Bank Announces The Winner Of International Economic
Development Research Annual (IEDRA) Award 2006
Strengthening R&D Capabilitites In India Exim Bank Study
Exim Bank Study highlights India's Trade and Investment Potential with
Maghreb Region
Exim Bank Extends US$ 7.5 mn Credit Line To Jamaica
Exim Bank Extends US$ 11 mn Credit Line To Senegal
Exim Bank Extends US$ 25 mn Credit Line To Guinea Bissau
Exim Bank Of India Signs A Loan Agreement For Japanese Yen
Equivalent To Us$ 100 Million With The Japan Bank For International
Cooperation, Tokyo
Exim Banks Of India And Hungary Ink Reciprocal Credit Agreements
To Boost Bilateral Trade
Exim Banks Second Samurai Bond Issue Receives Overwhelming
Response
Sale of Part / Full Stake in an Italian Forging Company
Exim Bank Extends $ 10 Million Credit Line To Pta Bank To Boost
Exports To Africa
Exim Bank announces the International Economic Development
Research Annual (iedra) Award 2005 Centre
65

Exim Bank signs Memorandum of Cooperation with SEWA Trade

Facilitation Centre
Exim Bank inks credit pacts totalling $40 mn. with Myanmar and
Mozambique
Mr. S.R. Rao and Mr. N. Shankar appointed as Executive Directors of
Export-Import Bank of India
GCC Countries: A Study of Indias Trade and Investment Potential
Exim Bank extends Credit Lines to Angola and Seychelles
Exim Bank Study highlights Trade and Investment Potential with Select
West African Countries
INDIAN PETROLEUM PRODUCTS INDUSTRY: OPPORTUNITIES
& CHALLENGES EXIM BANK STUDY
EXIM BANK PAYS Rs. 86.75 CRORE DIVIDEND TO
GOVERNMENT
Exim Bank extends Line of Credit of US$ 250 mn to Ecowas Bank
INDIAN LEATHER INDUSTRY: PERSPECTIVE AND EXPORT
POTENTIAL EXIM BANK STUDY
EXIM BANK EXTENDS US$ 65 MN CREDIT LINE TO ETHIOPIA
Exim Bank Commencement Day Annual Lecture 2006

66

IEDRA AWARD

Presentation of Exim Bank IEDRA Award 2012 by Dr. Raghuram Rajan,

Chief Economic Adviser, Govt. of India, Ministry of Finance, to the
Award winner, Dr. Harendra Kumar Behera in the presence of Mr.
T.C.A. Ranganathan, Chairman & Managing Director, Exim Bank of
India at the Award Function held in New Delhi on July 12, 2013. Exim
Bank's Occasional Paper titled "The Effects of Financial Openness: An
Assessment of the Indian Experience" was also released by Dr.
Raghuram Rajan at the function.
YEAR WINNER & AWARD WINNING THESIS
Dr. Harendra Kumar Behera: The Effects of Financial Openness:
2012
An Assessment of the Indian Experience
Dr. Brijesh Pazhayathodi: Exports of Services and Offshore
2011
Outsourcing: An Empirical Investigation in the Indian Context.
Dr. Narayan Chandra Pradhan Openness and Growth of the
2010
Indian Economy: An Empirical Analysis
67

YEAR WINNER & AWARD WINNING THESIS

Dr. Debasis Mondal Innovation, Imitation and North South
2009
Trade: Economic Theory and Policy
Dr. Ramaa Vasudevan - International Trade, Finance and Money:
2008
Essays in Uneven Development
Dr. Arjun Jayadev -- Financial Liberalisation and its
2007
Distributional Consequences: An Empirical Exploration
Dr. (Ms.) Monica Das -- Theory & Empirical Evidence on the
Ecology versus Economy Debate: A Non-Parametric Estimation
2006
of the SURE Model and an Application to a General Equilibrium
Model of Trade & Investment
Dr. (Ms.) Rashmi Banga - The Nature, Pattern and Impact of
2005 Japanese and US Foreign Direct Investments in Indian
Manufacturing
Dr. (Ms.)Prachi Mishra - Essays on Globalization and Wages in
2004
Developing Countries
Dr. Debkusum Das - Some Aspects of Productivity Growth and
Trade in Indian Industry.
2003
Dr. C. Veeramani - Intra-Industry Trade under Economic
Liberalisation: An Analysis of India's Manufacturing Sector.
Dr. Praveen Kumar - Increasing Wage Inequality - Role of
Changing Trade, Technology and Factor Endowments.
2002
Dr. Brati Sankar Chakraborty - Essays on Trade in Goods and
Factor Movements Under Increasing Returns to Scale
Dr. Sajjid Chinoy - Currency Risk Premia and Unhedged, Foreign
2001
Currency Borrowing in Emerging Markets
Dr. (Ms.) Sujata Verma -The Architecture of the International
Capital Markets: Theory and Evidence
2000 Dr. Uday Bhanu Sinha - On Some Implications of Imperfect
Market Structures: International Technology Transfer and
Instability of Joint Ventures in Developing Economies
68

YEAR WINNER & AWARD WINNING THESIS

1999 Dr. (Ms.) Poonam Gupta - Essays in International Economics
Dr. Avik Chakrabarti - Foreign Direct Investment and Host
Country Interaction: A Strategic Approach.
1998 Dr. Arijit Mukherjee - International Joint Ventures and
Technology Transfers in Developing Economies: Theoretical
Analyses.
Dr. Rajat Acharyya - Theoretical Aspects of Liberal Trade
1997 Policies in Transitional Economies: Exchange Rate, Competition
and Exports.
Dr. Avadhoot Nadkarni - India's Exchange Rate under the Basket
Arrangement: An Exposition and Evaluation.
1996
Dr. Laveesh Bhandari - International Technology Transfer:
Contracts, Learnings and Alliances.
Dr. Aditya Bhattacharjea - Essays in Industrial Organisation and
1995
Strategic Trade Policy for Developing Countries.
Dr. A. Prasad - External Debt of Developing Countries: A case
study of India.
1994
Dr. (Mrs.) Ashwini Deshpande - Some Aspects of International
Debt of Developing Countries.
Dr. Mathew Joseph - Exchange Rates Regime of Less Developed
Countries
1993
Dr. Tarun Kabiraj - Some Aspects of Technology Transfer:
Theory and Policy
Dr. Subhayu Bandopadhyay - Export Taxation in a Multicountry
1992
General Equilibrium Framework.
Dr. (Ms.) Neelam Singh -Foreign Ownership, Size and
1991 Performance of a Firm: A Case Study of Indian Pharmaceutical
Industry.
1990 Dr. Sebastian Morris - Foreign Direct Investments from India:
1964-83.
Dr. Prabhirjit Sarkar - The Post War Terms of Trade Controversy:
69

YEAR WINNER & AWARD WINNING THESIS

A Re-Examination.
Dr. Nagesh Kumar - Foreign Controlled Enterprises in Indian
1989
Industry.

TENDERS & NOTICE

ARCHIVES
Notice inviting Bids/offers for purchase of Commercial office Premises
at Chandigarh. DRM Solution requirement Expression Of Interest For
Empanelment Of Advertising Agencies Prequalification Document for
Procurement of Services Related To Maintenance of IT Equipment and
Facilities Management RFP for upgrade of Local Area Network and WiFi access at Head Office
Renovation Of Civil And Sanitary Installation Work For Exim Bank At
Chesneywest Apartment, Chennai (Submit the proposal by September
12, 2012).
Request for Proposal Notice for Empanelment of PR Agency
PROPOSED CIVIL REPAIRS, PAINTING, WATERPROOFING,
PLUMBING & OTHER MISCELLANEOUS WORKS AT LEMONDE
EXIM BUILDING AT DONGARSHI ROAD, WALKESHWAR,
MUMBAI. (Send reply by 21st February, 2012)?
PRE-QUALIFICATION
OF
SPECIALISED
AGENCIES
/
CONTRACTORS FOR INTERIOR WORKS
Prequalification Document for Procurement of Services for Maintenance
of IT Equipment and Facilities Management (EXIM/IT/PQ/2009/1) December 03, 2009
Expression
of
Interest
for
Interior
Architects
70

OFFERS INVITED FOR FLATS ON LEAVE & LICENSE BASIS

Prequalification Document for Procurement of Services Related To
Upgrade of Wide Area Network (WAN) With MPLS Technology (May
13, 2009)
Prequalification Document for Procurement and Implementation of
Business Intelligenc (BI) Solution0 - June 06, 2008
Prequalification Document for Procurement of Services for Maintenance
of IT Equipment and Facilities Management (EXIM/IT/PQ/2008/1) January 10, 2008
Invitation to Submit Expression of Interest (EOI) forSupply and
Installation of Dual-Core Intel Xeon Server (date: 04-Oct-06)
Invitation to Submit Expression of Interest (EOI) for Designing and
Implementing a Document Management System for Exim Bank (date:
27-Sep-06)
Designing and Implementing a Credit Risk Model for Exim Bank :
Invitation to Submit Expression of Interest (EOI) for Short-Listing
Further Clarifications (Date : 19.01.2006)
Designing and Implementing a Credit Risk Model for Exim Bank :
Invitation to Submit Expression of Interest (EOI) for Short-Listing
Further Clarifications (Date : 18.01.2006)
Designing and Implementing a Credit Risk Model for Exim Bank :
Invitation to Submit Expression of Interest (EOI) for Short-Listing

71

Procurement of Services for IT Equipment Maintenance and Facilities

Management - Further Clarifications (date: 26/12/2005)
Public Notice For Sale of Property Download Tender Document
Property Photographs
Invitation to Prequalify for Maintenance of IT Equipment and Facilities
Management

CAREER
At EXIM Bank, you will not only have challenging work right from the
beginning but will also be working with some of the most talented,
brilliant, hardworking, and smart people, in a work atmosphere which is
both conducive to learning and growth. Your work will revolve around
interesting projects and prestigious clients, whose challenging demands
will give you new skills, knowledge, and experience every day.
(a) Introduction
In comparison with other organisations with similar asset levels, Exim
Bank's staff strength is lean. As of March 31, 2013, total personnel in the
Bank numbered 275. Highly automated office systems ensure that
personnel are equipped with timely and complete information and
streamlined work processes. The human resources of the Bank include
200 professionals who are drawn from a variety of backgrounds
embodying various disciplines which are required for the Bank's
functions. They include bankers, business school graduates, chartered
accountants, economists, engineers and computer specialists.
CULTURE
Right from its inception, Exim Bank has attached a great deal of
importance to a congenial and challenging work environment. The
objective has been to achieve excellence in its area of operations, not
only in comparison with national organisations but also in a global
context. The bank has a private sector work ethic, while drawing upon
72

the advantages thrown up by way of its public sector ownership. Some

salient features of the work environment are the emphasis on office
automation, an open office system, an independent "doer's" work
culture, minimisation of hierarchical constraints in organisational
functioning, and multi-disciplinary inputs in decision making. Exim
Bank is an officer oriented organisation. Officers work independently
and self-sufficiently in all the activities that their job entails. A sense of
togetherness and common purpose is sought to be fostered by the Bank's
in-house publication Eximius, and the annual staff get-together. The
Eminent Persons Lecture Series brings persons who have achieved
eminence in diverse fields to interact and share their experience with
officers.
While the Bank does have a variety of designations for its professionals,
these are meant more for the purpose of establishing accountability and
do not have much relation to the work content. Externally, the titles
serve a purpose akin to protocol in fielding queries. Internally, the Bank
functions more like a horizontal organisational structure minimising the
hierarchical levels to quicken decision making. Consequently, internal
communication is free and fast flowing.
DECISION MAKING
While the Bank does have a variety of designations for its professionals,
these are meant more for the purpose of establishing accountability and
do not have much relation to the work content. Externally, the titles
serve a purpose akin to protocol in fielding queries. Internally, the Bank
functions more like a horizontal organisational structure minimising the
hierarchical levels to quicken decision making. Consequently, internal
communication is free and fast flowing.
The complexity of the Bank's functions requires cross-disciplinary
inputs for effective and correct decision-making. Thus, all important
decisions are taken with the aid of inputs from relevant specialists within
the Bank. This enables a comprehensive micro and macro level
assessment of risks and rewards. Through this process of collegiate
decision making, team work and inter personal skills are deployed to the
73

fullest extent so as to make optimum use of the Bank's diverse human

resources.
OFFICE AUTOMATION & TECHNOLOGY
Exim Bank operates at the frontier of available office automation and
technology. The Bank believes that human resources should primarily be
utilised for activities that require knowledge, skills, analysis and
discretionary choices. An array of state-of-the-art computer hardware,
software, and telecommunications are available to the Bank's personnel.
Members of the staff make use of these facilities to the fullest extent
feasible not only for non-discretionary activities but also as necessary
tools for optimising their work output both in terms of quantity and
quality.
(b) Young professionals programme
The Young Professionals Programme is the entry-point for a career with
Exim Bank. The Bank requires skills relating to various disciplines e.g.
business management, banking, economics, accountancy, engineering
and computer specialists. The age profile of the 'young professionals'
could be between 22 to 27 years. Prior work experience is neither
expected, nor considered necessary.
Exim Bank follows the Reservation Policy of Govt. of India (GOI).
Accordingly, reservation for SC/ST/OBC/PWDs will be in accordance
with the prevailing GOI guidelines. Candidates must state their
reservation status clearly in application. Age relaxation for SCs/STs
candidate is 5 years and OBCs candidate is 3 years. Age relaxation for
candidates belonging to Persons with Disabilities (PWDs) is 10 years.
Right from the very first year, young professionals will be working
independently on challenging assignments. The Young Professionals
Programme offers an exciting and challenging career to those with the
capability and desire to operate at the cutting edge of India's
globalisation process.

74

Except for those positions where highly specialised skills are needed, the
Bank does not normally recruit directly to higher professional positions.
Thus, young professionals who are committed to a long-term career in
the Bank, can expect to rise to the upper echelons of the Bank's
management in due course of time. Career growth is determined by
performance and merit, based on an objective and structured system of
evaluation. The Bank anticipates a major expansion and diversification
of its activities in the medium and long run, largely because of the
opportunities arising from India's ongoing globalisation efforts.
Therefore, young professionals can look forward to a fruitful career with
the Bank.
Given the complexity of the Bank's operations, as reflected by the many
specialised groups and work-skills, young professionals need to spend
time gaining exposure and knowledge of the various activities and skills
utilised in the Bank. This is especially necessary because efficient
decision making in the Bank requires knowledge of a variety of skills
and practices. Working with various groups, young professionals
become fully conversant with all the critical functions and activities.
They are also actively involved in appropriate assignments entailing
individual responsibility.
The Bank is unique in its global and national network of institutional
and professional linkages. The seven overseas offices - at Washington
D.C., Singapore, Dubai, London, Johannesburg, Addis Ababa and Dakar
- have helped forge strategic institutional linkages for the Bank with
multilateral agencies such as Multilateral Investment Guarantee Agency,
World Bank, Asian Development Bank, African Development Bank,
Export Credit Agencies, Trade and Investment Promotion Agencies
abroad. The Bank's extensive global network, supported by the Indian
Missions abroad facilitates interaction with such agencies and opens up
new opportunities for knowledge building and upgradation of skills.
(C) Rewards and recognition

75

The governing theme in EXIM Bank is the well being of our employees.
The benefits offered are among the best available and are provided with
a view to enhancing the quality of life for our employees. Our People
Policies are among the best in the industry and are aimed at not only
attracting but also retaining the best talent.
We have a comprehensive medical assistance program that covers (up to
specified limits) medical expenses you or your dependent family
members may incur. Leave benefits are enjoyed by all staff members
upon completion of 11 months of service. LTA facility can be availed,
for travel to any place in India. We also provide a variety of loans to
cover housing requirements or for other needs such as for the purchase
of a two-wheeler/ four-wheeler.
Our Continuing Education Scheme encourages further education related
to your profession. We also take great interest in the personal well being
of our employees, and facilitate a variety of training programmes and
workshops, as well as gymnasium aerobics and Yoga programmes aimed
at all-round growth and skill-development.
Hard work and contribution never go unnoticed at EXIM Bank. You will
be called upon to work on assignments overseas. If you are an
exceptional performer, you can be appointed to man one of our overseas
offices.
We take pride in our talented and dedicated colleagues. They are our
most valuable assets - we appreciate their commitment and recognize
their contribution to our success.

76

LINKS
Indian Economy
Ministry of Commerce and Industry
Ministry of Finance
Ministry of External Affairs
Ministry of Statistics & Programme Implementation
Ministry of Food Processing Industries
Reserve Bank of India
National Council for Applied Economic Research
Institute of Economic Growth
Global Economy
The World Bank
International Monetary Fund (IMF)
Asian Development Bank (ADB)
Multilateral Investment Guarantee Agency (MIGA)
African Development Bank Group (AfDB)
Organisation for Economic Cooperation and Development
(OECD)
77

Select Exim Banks / ECAs

The Export Import Bank of China
PT Bank Ekspor Indonesia (Persero)
Japan Bank for International Cooperation (JBIC)
Korea Exim Bank
Export-Import Bank of Malaysia Berhad
Phil Exim
Exim Thailand
The Export Finance And Insurance Corporation (EFIC), Australia
The Export - Import Bank of the United States (U.S.EXIM)
Export Credits Guarantee Department (ECGD)
Kreditanstalt fur Wiederaufbau (KfW)
Hermes Kreditversicherungs-AG (Hermes)
Croatian Bank for Reconstruction Development (HBOR)
Compagnie Francaise d'Assurance pour le Commerce Exterieur
(COFACE)
Export Development Corporation (EDC)
International Trade Agencies
World Trade Organisation (WTO)
United Nations Conference on
(UNCTAD)
International Trade Centre, Geneva

Trade

and

Development

Regional Trade Associations

Association of South East Asian Nation (ASEAN)
South Asian Association for Regional Cooperation (SAARC)
Asia-Pacific Economic Cooperation (APEC)
BIMSTEC
78

 Gulf Cooperation Council GCC

Others
Government of India Directory of Websites
Indian Missions Abroad
Export Credit Guarantee Corporation of India Ltd
Securities and Exchange Board of India
Bank for International Settlements
Indian Council for Research in International Economic Relations
Research & Information System for Developing Countries

79