Who established the EX-IM Bank?

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AP Police Constable (Prelims) Official Paper (Held On: 22 Jan 2023)
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  1. The Government of India
  2. The Reserve Bank of India
  3. The World Bank
  4. The IMF

Answer (Detailed Solution Below)

Option 1 : The Government of India
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The correct answer is The Government of India.

Key Points

  • The Export-Import Bank of India (EX-IM Bank) was established by the Government of India in 1982.
  • It was set up to finance, facilitate, and promote India’s international trade.
  • EX-IM Bank is a financial institution that supports businesses in India for their export and import activities.
  • The bank provides financial assistance to exporters and importers and plays a key role in promoting India’s global economic integration.

Additional Information

  • The Reserve Bank of India: The Reserve Bank of India (RBI) is India's central banking institution, established in 1935. It regulates the issuance and supply of the Indian Rupee, oversees monetary policy, and maintains financial stability in the country.
  • The World Bank: The World Bank is an international financial institution that provides loans and grants to governments of low- and middle-income countries for development projects. It does not establish individual banks like the EX-IM Bank.
  • The IMF (International Monetary Fund): The IMF is an international organization that focuses on global monetary cooperation, financial stability, and international trade. It primarily provides financial assistance and advisory services to member countries rather than creating specific banks.
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