Govt to infuse Rs 6,000 cr in form of recap bonds in EXIM Bank

New Delhi: The Government would infuse Rs 6,000 crore capital in the Export-Import (EXIM) Bank of India in the form of recapitalisation bonds, the Union Cabinet announced on Wednesday.

The Cabinet, met under the chairmanship of Prime Minister Narendra Modi, also decided to increase the authorised capital of the EXIM Bank from Rs 10,000 crore to Rs 20,000 crore, Railway Minister Piyush Goyal told reporters here.

Mr. Goyal said the equity would be infused in two tranches of Rs 4,500 crore in financial year 2018-19 and Rs 1,500 crore in 2019-20 respectively.

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