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.
After 7 months the war between Russia and Ukraine has reached a very dangerous point. Russia on M
Prime Minister Narendra Modi made a big announcement during his interaction with start-ups on Sat
Navjot Sidhu's trepidation for the CM's chair in Punjab has come to the fore again. Sidhu even sa
Russia-Ukraine War: Because of the rapidly deteriorating security situation in Ukraine, especiall
Today, five years since the terrorist attack that took place on 14 February 2019 in Pulwama, Srin
Indian tech giant Infosys made a big announcement on Wednesday. In a statement issued by the comp
Winds, rain damage more crops in Punjab, Haryana
Chandigarh, March 30 (IANS) As if the fury of recent rains in February and earlier March was no
Growth: ADB did not change India's economic growth forecast for 2022-23, kept unchanged at 7%
The Asian Development Bank (ADB) has kept India's economic growth forecast for 2022-23 unchanged
Taking a big decision on Wednesday, the Reserve Bank of India (RBI) increased the policy interest
Singer Samar Singh, the main accused in the death case of Bhojpuri actress Akanksha Dubey, has be
