Friday, January 6, 2017

Exim Mitra opens its windows, have you peeped in?

              Exim Bank Chairman and Managing Director Yaduvendra Mathur had a vision to launch a portal to assist small enterprises in their journey of ‘Exports’.

              The first mention in the public domain on this subject was during September 2016, to be more specific on September 6.

              In the long run, the portal aims to facilitate 20-25 services, including registration for undertaking exports, information on the closest bank branch that will provide export credit, and indicative freight cost.

              For example, if an exporter in Satara, Maharashtra needs export finance then he should be able to tap the ‘Exim Mitra’ portal and get information on the closest commercial bank branch that can help him with his financing requirement.

              Once the portal plan was finalised, EXIM Bank Team started talks with banks for data on export finance, logistics firms for freight costs.

Exim Bank Chairman and Managing Director Yaduvendra Mathur said: “We are looking to open an online facilitation window. We note there is a big information gap. There are a large number of potential exporters, typically smaller companies which are not able to access the whole gamut of facilities and there are many agencies involved (for exports).”

              Finally on January 6th, EXIM Bank unveiled the portal to the public @

              The registration on the portal is free of cost and anyone having a valid email account can register. It is not necessary that only Exporters will benefit from this portal. Non-Exporters too can register and explore the various guidelines to be a successful exporter.

              As on date, 7 financing institutions are part of Exim Mitra. The list of the 7 banks are Axis Bank, Export-Import Bank of India, ICICI Bank, IDBI Bank, Standard Chartered Bank, State Bank of India and Syndicate Bank.

              So go ahead, and explore the various facets of Exports/Imports in India