Cabinet Approves Recapitalization of Export-Import Bank of India 

The Union Cabinet has approved the recapitalization of EXIM Bank. The details are as follows:

1. Issuance of Recapitalization Bonds by the Government of India to the tune of Rs.6,000 crore for capital infusion in Export-Import Bank of India (Exim Bank).
2. The equity will be infused in two tranches of Rs. 4,500 crore in FY 2018-19 and Rs.1,500 crore in FY 2019-20 respectively.
3. The Cabinet also approved an increase in the authorized capital of Exim Bank from Rs. 10,000 crore to Rs. 20,000 crore.

Source- AIR World Service

Static/Current Takeaways Important For IBPS Clerk Mains Exam:

  • Exim Bank of India (Exim Bank) was established in 1982.
  • It is regulated by RBI.
  • David Rasquinha is the MD and CEO of EXIM Bank.

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