Question

What are the functions performed by (a) EXIM Bank; and (b) NABARD.?

Answer 1

Answer:

Explanation:

EXIM Bank :

Export–Import Bank of India (EXIM) is a finance institution which was formed in 1982 under the Export-Import Bank of India Act 1981.

The following are some of the functions performed by EXIM:

• Provides finances for export and import of goods and services both within India and  countries outside India.

• Provides finances for machines required for the export or import of as well as machinery on hire purchases or lease.

• Provides businesses with financial assistance going for a joint venture outside India.

• Provide the exporter as well as the importer with vital assistance and guidance in the field of administration.

• Acts as a merchant bank for the exporter or importer for undertaking foreign transactions .

NABARD:

(NABARD) National Bank for Agriculture and Rural Development is the apex financial agency which is entirely owned by Government of India.

The following are some of the functions performed by NABARD:

• It looks after the development of small scale industries, cottage industries as well as village and rural industries.

• Provide assistance in the field of investment and also provide credit for production in order to enhance overall development activities around rural areas

• It monitors and evaluates projects refinanced by it.

• It provides the facility of refinancing the financial institutions which finances the rural sector.

• It is empowered to keep an eye on the institutions which provide financial assistance to the rural economy.

• Undertakes the responsibility of providing training facilities to  institutions engage in rural upliftment.

  Hope this helps.