Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Exim Bank to raise $3.5 bn from overseas, Rs 8,000 cr from domestic market

Author: IANS/Saturday, May 20, 2017/Categories: Economy

Exim Bank to raise $3.5 bn from overseas, Rs 8,000 cr from domestic market

Kolkata, May 21 (IANS) Exim Bank (Export Import Bank of India) plans to borrow $3.5 billion from overseas markets and Rs 8,000 crore from domestic market in the current financial year, a top official said.

 "We are looking to borrow $3.5 billion from overseas markets in this financial year. This would be our gross borrowing. We are also looking to raise Rs 8,000 crore from the domestic market," said Exim Bank's Deputy Managing Director Debasish Mallick here.
 
 He said the bank raises funds from euro bond market which is called Reg S issue and also from US bond market under Regulation 144.
 
 "Domestically we raise mainly through private placements and $3.5 billion gross borrowing will have Reg S component of borrowing (from euro bond market), US 144 A borrowing also," he said.
 
 The Exim Bank provides finances broadly in three segments -- overseas investment finance scheme, project exports and lines of credit which is basically a government to government credit.
 
 Apart from supporting exports oriented companies, the bank provides financial assistance to Indian companies which go for overseas acquisition or implement projects outside India.
 
 The lender, owned by the central government, supports airports and ports for facilitating exports activities.
 
 "We are having advanced level discussion with Paradip Port, Jawaharlal Nehru Port Trust," he said.
 
 Continent-wise, Asia has been becoming increasingly important while earlier its exposure was more in Africa, Mallick said, adding that Indian manufacturers and project executors were facing intense competition from Chinese counterparts.
 
 "Of late, one thing is slowly getting recognised that Indian investment and Indian work execution are better than the Chinese. They have been able to make good inroads even in Asian markets," he said.
 
 Indian manufacturers and project executors have also started getting projects in the advanced countries, he added.
 

Print Rate this article:
No rating

Number of views (134)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free