Question

Export‐Import Bank of India's Act was passed in

• A. Export-Import Bank of India Act, 1986
• B. Export-Import Bank of India Act, 1979
• C. Export-Import Bank of India Act, 1971
• D. Export-Import Bank of India Act, 1981

Hint:

Do not confuse the Act year (1981) with the commencement of operations year (1982).
This distinction between statutory enactment and operational launch is a common test area in competitive banking exams.

Answer 1

The Correct Option is D

Step 1: Understanding the Concept:
The Export-Import Bank of India (EXIM Bank) is a specialized financial institution in India.
It was established to facilitate, integrate, and finance India's international trade.
Detailed Explanation:
The EXIM Bank of India is a statutory corporation.
It was established under the Export-Import Bank of India Act, which was passed by the Parliament in 1981.
The bank formally commenced its financial operations on March 1, 1982.
It functions as a key coordinator of institutions engaged in financing export and import transactions.
It provides lines of credit to foreign governments and financial institutions to support Indian exports.
Reviewing the options:
- Option (D) correctly identifies the legislative act passed in 1981.

Step 2: Final Answer:
The Export-Import Bank of India Act was passed in 1981.