The Lok Sabha today approved a bill to increase the authorised capital of Export Import Bankof India (Exim Bank) from Rs 2,000 crore to Rs 10,000 crore.
The amendments to the Exim Bank Act 1981, also authorises the government to raise the authorised capital of the Bank in future through a notification.
"The amendment will help the Exim Bank to promote its objective of raising exports...providing more letters of credit (LoCs) to exporters.
The Bank, set up in 1981, has a net worth of Rs 5,230 crore and Non-Performing Assets of 0.02 per cent, which is lowest in the financial sector,
