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EXPORT IMPORT NEWS
EXPORT-IMPORT BANK
Exim Bank prepares a study on defence equipment EXIM extends LOC to
industry Govt. of Mongolia for
railways, infrastructure
Exim Bank has prepared a comprehen- cent value addition happens at the in-
sive Study entitled "Defence Equip- tegrator stage, with the component Export-Import Bank of India has ex-
ment Industry: Achieving Self-Reliance suppliers, many of which are SMEs, tended a Line
and Promoting Exports", of Credit
the first copy of which was accounting for only 20 per- (LOC) of USD
presented to Gen. (Dr) V. K. cent. This concentrated 1 billion to
Singh (Retd.), Hon'ble Min- structure restricts the the Govern-
ister of State for External growth of private players in
Affairs and Minister of State the sector and also affects ment of Mongolia, for development of
(Independent Charge) for Statistics and the scope for R&D. railways and related infrastructure
Programme Implementation, Govern- projects. The LOC Agreement was
ment of India. Highlighting the policy initiatives in re- signed by Mr. David Rasquinha, Deputy
cent times, the Study has opined that Managing Director, on behalf of Ex-
The Study has noted that the Indian there has been a paradigm shift in the port-Import Bank of India and H.E. Mr.
defence sector is at variance from the defence sector with a renewed focus on Gonchig Ganbold, Ambassador Ex-
global one, where more than 80 per- self-reliance, import substitution, tech- traordinary and Plenipotentiary of
nology upgradation and indigenization. Mongolia to India, on behalf of the
Government of Mongolia.
Exim Bank posts Annual Result 2015-16
The USD 1 billion is the second larg-
Exim Bank's Chairman and Managing The bank had successfully launched a est Exim Bank's GOI-supported LOC
Director, Mr. Yaduvendra Mathur has 5 year Reg S Green Bond issue of US$ to any country. With the signing of
announced the Bank's results for the 500 million. It has attracted subscrip- the above LOC Agreement for USD
year 2015-16. tion of around 3.2 times the issue size, 1 billion, EXIM Bank, till date, has
led by strong demand, across 140 ac- extended two LOCs to the Govern-
The financial performance of Exim counts, with significant participation ment of Mongolia, on behalf of Gov-
Bank shows that the loan portfolio has from green investors and real money ernment of India, taking the total
risen up to 18% to Rs 1,02,537 crore accounts, upsized from $ 250 million. value of LOCs to USD 1.02 billion.
and non funded portfolio roused to Rs
11, 555 crore. The net worth in- It raised US$ 162.26 million equivalent The first LOC of USD 20 million was
creased to Rs 11,486 crore. Eventually by way of Uridashi Bonds in two differ- extended in July 2011 for financing
the total business was up by 17% ent currencies viz., Australian Dollar and the India-Mongolia Joint Information
which amounted to Rs 2,07,409 crore. United States Dollars thereby achieving Technology Education & Outsourcing
diversification of investor base. Center (IMJIT) Project in Mongolia.
The Capital to Risk Assets ratio was
14.55% and the net NPAs was 0.86%.
20 | 2016 | JUNE | BANKING FINANCE
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