{"id":308144,"date":"2019-01-16T13:00:13","date_gmt":"2019-01-16T13:00:13","guid":{"rendered":"http:\/\/tehelka.com\/?p=308144"},"modified":"2019-01-16T13:00:13","modified_gmt":"2019-01-16T13:00:13","slug":"govt-approves-rs-6000-crore-capital-infusion-in-exim-bank","status":"publish","type":"post","link":"https:\/\/tehelka.com\/govt-approves-rs-6000-crore-capital-infusion-in-exim-bank\/","title":{"rendered":"Govt. approves Rs 6,000-crore capital infusion in Exim Bank"},"content":{"rendered":"<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\"><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-304552 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2018\/10\/cash-300x244.jpg\" alt=\"\" width=\"542\" height=\"441\" srcset=\"https:\/\/tehelka.com\/media\/2018\/10\/cash-300x244.jpg 300w, https:\/\/tehelka.com\/media\/2018\/10\/cash-517x420.jpg 517w, https:\/\/tehelka.com\/media\/2018\/10\/cash.jpg 582w\" sizes=\"(max-width: 542px) 100vw, 542px\" \/><\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Government of India on Wednesday approved a capital infusion of Rs 6,000 crore in state-owned\u00a0Exim\u00a0Bank.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The Union Cabinet, chaired by\u00a0Prime Minister\u00a0Narendra Modi, also approved an increase in the bank&#8217;s authorised capital from Rs 10,000 crore to Rs 20,000 crore.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Railway Minister Piyush Goyal told said, \u201cit has been decided to issue recapitalisation bonds by the\u00a0Government of\u00a0India\u00a0to the tune of Rs 6,000 crore for capital infusion in\u00a0Export-Import\u00a0Bank\u00a0of\u00a0India\u00a0(Exim Bank).\u201d<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">\u201cThe equity will be infused in two tranches of Rs. 4,500 crore in 2018-19 and Rs.1,500 crore in 2019-20 respectively,\u201d he added.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Exim Bank is the principal export credit agency for India and the infusion will give an impetus to anticipate new initiatives like supporting Indian textile industries, likely changes in Concessional Finance Scheme (CFS), likelihood of new letters of credit (LoCs) in future in view of India&#8217;s active foreign policy and strategic intent.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Exim Bank was established in 1982 as the apex financial institution for financing, facilitating and promoting India&#8217;s international trade.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The Bank primarily lends for exports from India including supporting overseas buyers and Indian suppliers for export of developmental and infrastructure projects, equipment, goods and services from India.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government of India on Wednesday approved a capital infusion of Rs 6,000 crore in state-owned\u00a0Exim\u00a0Bank. The Union Cabinet, chaired by\u00a0Prime Minister\u00a0Narendra Modi, also approved an increase in the bank&#8217;s authorised capital from Rs 10,000 crore to Rs 20,000 crore. Railway Minister Piyush Goyal told said, \u201cit has been decided to issue recapitalisation bonds by the\u00a0Government [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":304552,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[10618,316,3820,4477],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/308144"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=308144"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/308144\/revisions"}],"predecessor-version":[{"id":308145,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/308144\/revisions\/308145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/304552"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=308144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=308144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=308144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}