Full Form of EXIM
Export and Import Bank of India
EXIM Full Form is Export and Import Bank of India. EXIM refers to a major export finance institution operating in India. It was founded in the year 1982 by virtue of the enforcement of the Export-Import Bank of India Act 1981. Ever since its foundation, EXIM has been a major player in the encouragement of cross-border investment and trade activities. It commenced operations as a provider of export credit, like any other export credit agency in the world but eventually transformed into an institution playing a key role in partnering with Indian industries.
It helped the Small and Medium Enterprises (abbreviated as SME) in their globalisation attempts by means of a big range of products and services provided at every stage of the business cycle, beginning from the export of product development and import of technology to export marketing, post-shipment, overseas investment, pre-shipment investment, etc. EXIM bank is managed under the direction of a Board of Directors, having representatives from the Reserve Bank of India (abbreviated as RBI), the Government, the Export Credit Guarantee Corporation of India, public sector banks, financial institutions, and the national business community.
The functions of EXIM are classified as per their nature such as the Corporate Banking Group manages a wide range of financing programmes for the purposes of Export Oriented Units (abbreviated as EOUs), overseas investments made by Indian corporations, and Importers; the Trade Finance Group (or the Project Finance) manages a big range of export credit services like the credit of suppliers for spearheading the promotion of Agricultural exports; Export Marketing Services Bank provides assistance to various Indian companies, enabling them to establish their goods in overseas market; and the Small and Medium Enterprise, which oversees the management of credit proposals coming from SMEs under several lending programmes of the EXIM.