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| Exim Bank to borrow Rs 20k crore this fiscal |
| Press Trust Of India / Mumbai May 22, 2009, 00:46 IST |
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Eyeing 20 per cent growth in loan assets, Export-Import Bank of India today said that it planned to borrow Rs 20,000 crore in the current fiscal. “We plan to borrow Rs 20,000 crore this fiscal, of which Rs 6,000 crore would be foreign currency debt,” Exim Bank’s Chairman and Managing Director T C Venkat Subramanian said here.
Subramanian said that the bank planned to issue bonds and commercial papers to raise domestic debt amounting to Rs 14,000 crore during the fiscal. It would also look at RBI’s refinancing facility to meet the fund requirements.
“We also hope to raise Rs 1,500 crore through term deposits during the fiscal as compared to Rs 950 crore in 2008-09,” he said.
In FY09, Exim Bank had raised borrowings of various maturities aggregating Rs 17,650 crore comprising rupee loans of Rs 11,708 crore and foreign currency resources of $1.7 billion equivalent. Its loan assets increased to Rs 34,505 crore in FY09, up by 18 per cent from the previous fiscal.
“We hope to register 20 per cent growth in loan assets this fiscal. We are confident of that. In case, a particular area does not perform well in the current economic downturn, we will focus on other areas to keep the momentum,” he said.
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