Recovery expenses shall be first change on the amounts recovered. Buying and selling foreign exchange and performing such other functions of an authorized dealer as may necessary for the functions of an export- import bank.
Ans: This statement is False. It functions under the administrative control of the Ministry of Commerce and is managed by a Board of Directors representing Government, Banking, Insurance, Trade, Industry, etc.
Financing export marketing-It helps the exporters carry out their export market development plan in Indian market. Exporters may not however, be able to obtain such facilities from their bankers for several reasons e. Export Marketing Services covers wide range of export oriented companies and organizations.
Lines of Credit- EXIM bank also offers financial assistance to the overseas financial institutions and various government agencies for import of goods and services from India. Such projects have supplemented the efforts of the host country governments in achieving their developmental objectives.
Guarantees to Banks: Timely and adequate credit facilities, at the pre - shipment as well as post shipment stage are essential for exporters to realise their full export potential. It offers products and services 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.
The primary goal of ECGC is to support and strengthen the export promotion drive in India by providing a range of credit risk insurance covers to exporters against loss in export of goods and service also by offering guarantee covers to banks and financial institutions of enable exporters to obtain better facilities from them.
The Group handles projects and export transactions in the agricultural sector for financing. The aim was to improve the quality standards of our imports and exports.