Chennai, March 5 (IANS) The Export-Import Bank of India (Exim Bank) would leverage an additional capital infusion of Rs.1,300 crore by the central government to raise around Rs.13,000 crore funds, said a senior official.
"The additional capital infusion of Rs.1,300 crore is for our growth and not for meeting capital adequacy norms," David Rasquinha, deputy managing director told reporters here on Thursday.
He said the project export finance institution can raise funds up to 10 times of the additional capital infusion through various financial instruments.
According to Rasquinha, the bank's paid up capital is around Rs.5,000 crore and the total outstanding is around Rs.90,000 crore.
Last year Exim Bank's book size grew by Rs.9,000 crore and this fiscal the figure is expected to be around Rs.12,000 crore.
Rasquinha said there is good growth prospects in power generation/distribution, water, sanitation and civil construction.
He said Exim Bank aims to boost Indian Project Exports from the current levels of $27 billion to over $50 billion in the next fove years through its innovative initiatives and by leveraging the increasing opportunities in Asia and Africa.
Exim Bank is supporting 374 project export contracts valued Rs.161,083 crore (approx $26.85 billion) that are currently under execution, in 78 countries across Asia, Africa and CIS by 112 Indian companies.
These projects are being supported by Exim Bank through a mix of funded and non-funded facilities.
Exim Bank, in collaboration with the African Development Bank, is also setting up a Project Development Company (PDC) in Africa to identify and develop infrastructure projects with the objective of providing the Indian private sector an opportunity to invest in and implement such projects in Africa.
The PDC is expected to provide specialist project development expertise to take the infrastructure project from concept to commissioning. The PDC shall focus on infrastructure projects that have specific strategic interest to India.
Possibility of war away from China; The good thing is that contacts at the political, diplomatic, and military levels are not yet broken.
'Yudham Pragya' is such a principle, which many times Indian forces are called to follow. It means 'fight with wisdom' and in particular it tells two things to future leaders. The first is that you
After Bengal, protests against Waqf law turned violent in Assam, stones were pelted at police; soldiers resorted to lathicharge
After West Bengal, violence erupted against the Waqf Amendment Act in Assam's Cachar district. However, the alert police personnel immediately controlled the situation. Cachar police have registered a
New innovations begin in the world to deal with the Corona epidemic; Emergency ventilator built in 3 days, 3D arm will prevent infection
new Delhi. Scientists from around the world have been looking for ways to prevent the spread of coronavirus vaccines and epidemics, while some innovators have gone far beyond them. The new emergency
In Pakistan, onion prices increased by 500% in a year: only 21 days' expenditure money left in the treasury; the full story of the plight
The onion price in Pakistan was Rs 36 per kg in January last year, which has increased almost six times to Rs 220 this year. Inflation increased at the rate of 13% in January 2022, at present it is
Modi meets ministers holding independent charge
New Delhi, March 31 (IANS) Prime Minister Narendra Modi on Tuesday met ministers of state with independent charge for feedback on the funcctioning of their ministries, sources said."He discussed
AstraZeneca stopped Phase-3 trials; 9 pharmaceutical companies will not release promising premature vaccines; Covaxin will be available by next year
The economy of the country and the world is struggling with a crisis due to the second powerful wave of coronavirus. The number of new cases in unlocking is increasing daily in India too. In such a
We will remember this forever: McCullum
Auckland, March 24 (IANS) An ecstatic New Zealand skipper Brendon McCullum believes his team and everyone who witnessed the edge-of-the-seat cricket World Cup semifinal match against South Africa
Data Protection Bill: Companies will not be able to use personal data of people, there is a provision of fine up to 250 crores in the draft
Digital Personal Data Protection Bill: The government has presented the draft of the Digital Personal Data Protection Bill, 2022. It has been introduced to make the digital world secure. Now a company
BJP leader said - Sita's life is like a divorcee: Education Minister in MP said - Earth split and mother merged, it's like suicide
Madhya Pradesh's Higher Education Minister Mohan Yadav compared the life of Mother Sita to the life of a divorcee. Mohan Yadav was speaking at the Karsevak Samman function at Nagda in Ujjain on
Nubia Red Magic 9 Pro: New gaming phone launched with a 6500mAh battery and up to 16GB RAM, check the price and features
Nubia has launched Red Magic 9 Pro in China only last month. After China, this phone has now been introduced to the international market. Nubia Red Magic 9 Pro phone is a phone brought with Octa-Core
