Chennai sources stated that state owned EXIM Bank is in the process of appointing a 'strategic consultant' to re look at its entire business strategy. A top official David Rasquinha said the bank also plans to rise around USD two billion during the current year, Export-Import Bank of India, managing director. Meanwhile he said right now, we are in the process of engaging a strategic consultant. Because we feel that we have been in operation for more than three decades. We were set up in 1981 and the conditions then were different.
Reportedly Rasquinha was talking to reporters on the sidelines of a Business Outreach Program on India's Line of Credit and Solar Projects' organized by Economic Diplomacy and States division, External Affairs Ministry and EXIM Bank. Furthermore on the proposal to appoint a "strategic" consultant, Rasquinha said, "when we set up business, it was a different kind of situation at that time and now we are in 2019.
Moreover to a query on capital infusion from the central government, he said Finance Minister Piyush Goyal while presenting the budget estimates had announced provision of Rs 6,000 crore for the bank. He added "We hope it will be passed in Parliament shortly. In the first phase it will be Rs 4,500 crore in 2018-19 and Rs 1,500 crore for 2019-20".
