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ROLE OF EXPORT IMPORT BANK: Export-Import Bank of India was set up in 1982, for the purpose of financing, facilitating and promoting foreign trade of India. It is the principal financial institution the country for coordinating working of institutions engaged in financing exports and imports. The major functions of EXIM bank are as follows:
Finance: The present focus of Exim Bank is on export finance. The Bank finances export of Indian machinery, manufactured goods, and consultancy and technology services on deferred payment terms. Exim Bank finance is also available at export production stages.
Services: EXIM Bank provides information, advisory services to enable exporters to evaluate the international risks, export opportunities and competitiveness.
Research & Analysis: research & Analysis carried out on specific industry subsectors with export potonial, and international trade related subjects are provided to exporters.
Legal Framework : Section 50 of the Indian Customs Act requires the exporter to file a declaration in a prescribed form and submit supporting documents to enable the customs autho
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NEED FOR PROCEDURAL FORMALITIES : Procedural formalities prescribed for claiming various export-incentives need timely and proper compliance on the part of exporters. This alone w
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