Economics • Banking & FinanceEasy
What is the primary mandate of the 'Export-Import Bank of India (EXIM Bank)' established under an Act of Parliament?
A. Providing retail banking services to rural farming communities across India.
B. Promoting international trade and financing exports and imports of goods and services.✓ Correct Answer
C. Regulating all foreign exchange transactions under the FEMA framework.
D. Issuing currency notes and managing government public debt.
💡 Solution & Explanation
The Export-Import Bank of India was established under the Export-Import Bank of India Act, 1981, as the premier financial institution tasked with facilitating and promoting international trade and cross-border investments. Commercial banks handle retail public deposits, whereas EXIM bank focuses strictly on export credit and international operations.
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