Exim Awaits Green Signal To Double Equity Base

The Exim Bank of India is awaiting the parliament's appr-oval for doubling the authorised capital of its equity base to Rs 1,000 crore from Rs 500 crore . The executive director of the bank, Y B Desai, said that Rs 500 crore is immediately needed from the government to sustain its current annual growth rate of 25 per cent.

According to projections of the bank, the funds requirement for the next five years will be around Rs 6,000 crore, entailing an increase in the equity base to Rs 2,000 crore.

Desai said Exim's logo implicitly rejects export pessimism and encourages imports that will lead to higher exports.

He further said the banks initiatives in terms of new loan programmes and services aim at enhancing the country