Introduction of the Export-Import Bank of India (Amendment) Bill 2011.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Introduction of the Export-Import Bank of India (Amendment) Bill 2011. - News and Press Release Dated:- 16-11-2011 - News - Press Information Bureau Government of India Ministry of Commerce Industry 16-November-2011 13:53 IST Introduction of the Export-Import Bank of India (Amendment) Bill 2011 The Union Cabinet today approved the introduction of The Export Import Bank of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... India (Amendment) Bill, 2011 to amend the Export Import Bank Act, 1981 (the Act) in the Parliament. The Bill seeks to increase the authorised capital of the Exim Bank from Rs.2000 crore to Rs.10,000 crore with the provision that the Central Government may, further, by notification, increase the said capital up to an amount that it may deem necessary from time to time and also to make a provis .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ion for appointment of two-whole time Directors, other than the Chairman and Managing Director (CMD), in the Bank by the Central Government. Increase in the authorised capital would enable the bank to take higher export credit exposures, enable it to borrow funds to disburse under export line of credits. Further by appointing two whole time directors, the management structure of the bank would b .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e strengthened which in turn would enable the bank to achieve excellence in its area of operations, compete with international banks and export credit agencies in its endeavour to promote India s international trade and investment. Background: The Export Import Bank of India, herein after referred as Exim Bank, was set up as a Corporation in 1982 under the Export Import Bank of India Act, 19 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 81 for providing financial assistance to exporters and importers and for functioning as principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country s international trade and connected matters. *** AD/LM/SM - News - Press release - PIB Tax Management India - taxmanagementindi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... a - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X