Current Affairs Economy & Banking

Category : Economy & Banking

The Union Cabinet has approved the recapitalization of EXIM Bank. The details are as follows: 1. Issuance of Recapitalization Bonds by the Government of India to the tune of Rs.6,000 crore for capital infusion in Export-Import Bank of India (Exim Bank). 2. The equity will be infused in two tranches of Rs. 4,500 crore in FY 2018-19 and Rs.1,500 crore in FY 2019-20 respectively. 3. The Cabinet also approved an increase in the authorized capital of Exim Bank from Rs. 10,000 crore to Rs. 20,000 crore.

Source- AIR World Service