Introduction of the Export-Import Bank of India (Amendment) Bill 2011

The Union Cabinet today approved the introduction of “The Export Import Bank of India (Amendment) Bill, 2011” to amend the Export – Import Bank Act, 1981 (the Act) in the Parliament.

The Bill seeks to increase the authorised capital of the Exim Bank from Rs.2000 crore to Rs.10,000 crore with the provision that the Central Government may, further, by notification, increase the said capital up to an amount that it may deem necessary from time to time and also to make a provision for appointment of two-whole time Directors, other than the Chairman and Managing Director (CMD), in the Bank by the Central Government. Continue reading “Introduction of the Export-Import Bank of India (Amendment) Bill 2011”