Government has appointed a 10-member panel to look into various issues, including higher capital infusion in Exim Bank.
Panel will be headed by the finance secretary to look into various issues of Exim Bank. It also includes economic affairs secretary, commerce secretary, financial services secretary and disinvestment secretary.
Terms of Reference:
The panel will examine the need for capital infusion by the government in Exim Bank (Export Import Bank of India) and ECGC.
The committee will also look into aspects relating to quantum of dividend to be paid by Exim Bank and ECGC.
The panel has been entrusted with the job of examining issues related to widening the role of ECGC by addressing regulatory constraints and also suggesting separate prudential norms and policy guidelines for Exim Bank to be framed by RBI under the master directions.
Exim Bank was formed with a mandate to not just boost exports from India. It has been both a catalyst and a key player in the promotion of cross-border trade and investment.
ECGC, wholly-owned by the central government, was set up with the objective of promoting exports by providing credit risk insurance and related services.