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EXIM Bank to raise Rs. 7,000 cr.
MUMBAI,
APRIL 27.
Export-Import Bank of India will raise about Rs. 7,000 crores, including foreign exchange worth Rs. 3,800 crores, in 2004-05 to augment resources for lending activity.
"Exim Bank will raise Rs. 3,800 crores in foreign exchange and balance over Rs. 3,200 crores in Indian rupee this year," its Chairman and Managing Director, T. C. Venkat Subramanian, told reporters here today.
On immediate plans of mopping up funds from the overseas market, Mr. Subramanian said the Reserve Bank of India has given its approval to raise $300 million through external commercial borrowings (ECBs). — PTI
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