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RBI Credit Line To Act As ‘Insurance’ For Exim Bank
The RBI’s swap facility will ensure Exim Bank has adequate funding to meet any upcoming bond redemptions.
28 May 2020, 01:58 PM IST
The Export-Import Bank of India is hunkering down and preparing for a period in which the world may continue to face dollar shortages. A sharp slowdown in trade has meant reduced velocity of dollars in the global market while nervousness in global markets have driven up the cost of accessing dollar funding.In order to ensure that India’s Exim Bank does not run into dollar shortages, the Reserve Bank of India, last week, said it would...
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