The Export-Import Bank of India (EXIM Bank) is a specialized financial institution and a statutory corporation established by an Act of Parliament. It was created by the Export-Import Bank of India Act, 1981, which received the President's assent on April 7, 1982. The bank commenced operations in March 1982. The institution was established to solve the problem of needing a dedicated export credit agency to promote and finance India's foreign trade, a concept debated for over two decades. It took over the operations of the International Finance Wing of the IDBI.
The bank's mechanism is governed by the Export-Import Bank of India Act, 1981. Section 3 establishes the bank as a body corporate. Section 10 empowers the EXIM Bank to grant loans and advances, both in and outside India, for export or import purposes. Its functions, detailed in Section 4, include providing financial assistance like loans, guarantees, and equity participation to exporters and importers. It also extends Lines of Credit (LoCs) to foreign governments and financial institutions to promote the purchase of Indian goods and services.
EXIM Bank is wholly owned by the Government of India and is the principal financial institution for coordinating the working of other institutions engaged in financing exports and imports. A recent change involves the Directorate General of Foreign Trade (DGFT) announcing that EXIM Bank will replace the Reserve Bank of India (RBI) as the implementing agency for the Interest Subvention Support Scheme for pre- and post-shipment export credit. This transition is effective from April 1, 2026, with EXIM Bank managing all operationalizations, verification, and claim settlement workflows for the scheme.