Export Import Bank Of India

RBI has allotted IFSC codes to all the bank branches in India. This code 11-digit codes with alphanumeric characters are unique and helps the users to ensure that the transferred funds go to the right person account.

For example, we can take the IFSC code: "EIBI0HO0001" of the Export Import Bank of India branch in Mumbai, Maharashtra. This IFSC code is used for online money transactions via NEFT, RTGS and IMPS to any Export Import Bank of India account or to other bank accounts.

• Here, the first four alphabets, EIBI, indicate the bank name, i.e., Export Import Bank of India.
• The fifth digit is 0 (zero) - provided for future use.
• The last six digits HO0001 - denotes a particular branch of Mumbai, Maharashtra.

According to RBI guidelines, the IFSC code is mandatory for interbank transfers. It helps to know the online fund transfers and also makes it easy without any confusion.

Easy way to find Export Import Bank of India IFSC Code and MICR Code?

If the customer knows the full name of the bank and its branch location, then it is easy to find IFSC codes and MICR codes within a few seconds on the internet. They can find IFSC code and MICR code which are printed on passbook and cheque books/ leaves issued by Export Import Bank of India.

The website of Reserve Bank of India also offers the entire list of IFSC codes required for the account holder. The customers can also enter on the bank's official website. Customers must feed some bank details like the state in which it is located, the district in which it is located and branch name to get IFSC codes or MICR codes for Export Import Bank of India.

Export Import Bank Of India Branch Details

• Maharashtra

ABOUT EXPORT IMPORT BANK OF INDIA

• Exim Bank of India was finally set up in 1982, after a long period of debate more than two decades. Prior to the establishment of Exim Bank witnessed significant changes in the industrial and the trade scenario. Indian exports in the later 1950's and early 1960's consisted of primary commodities and traditional manufactures like jute and cotton textiles.


• In India, expansion in domestic demand serves as the engine for economic growth and the expansion of export opportunities were limited and there were fundamental constraints (like inadequate infrastructure) to export growth. Many steps were taken to promote the manufacturing sector and industries, so the export sector was neglected. The change in India's export profile commenced slowly in the sixties with a growing share of non-traditional manufactured goods and value-added products.


• During 1978-79, the Ministry of Finance convened meetings to discuss the proposal regarding setting up of an Export-Import Bank. In meetings, it was agreed to concentrate attention on the needs of exporters and explore new methods for augmenting credit on reasonable terms. In 1980, engineering goods exports had grown to constitute 13 per cent of Indian exports.


• The growing demand of project exporters for an Exim Bank, vigorous support from the Ministry of Commerce and increasing emphasis on export promotion. On 18 June 1980, in the Parliament budget speech, the then Finance Minister, Shri R. Venkataraman, announced the momentous decision to establish an Exim Bank. The Export-Import Bank of India Act was passed in September 1981 and the Bank commenced its operations in March 1982.


• Today, the bank serves as a growth engine for Indian Businesses' range of products and services. This includes import of technology and export product development, export production, export marketing, pre-shipment and post-shipment and overseas investment. In a rapidly shifting financial landscape, the bank was a catalyst and key player in the promotion of cross border trade and investment.


• The bank operations are governed by a Board of Directors. It consists of a chairman, a managing director, two deputy managing directors; one director each nominated by the Reserve Bank of India; IDBI Bank Limited and ECGC Limited; and not more than 12 directors nominated by the Central Government of, whom 5 directors are Central Government officials; not more than 3 directors are from commercial banks; and up to 4 directors are professionals with experience in export / import or financing.

ADDRESS
Export Import Bank of India,
Floor 21, Center One Building,
World Trade Centre Complex,
CuffeParade,
Mumbai 400005..
contact: (+9122) 22172600
Fax: (+9122) 22182572
Email ID: customercare@esafbank.com
Working hours: Monday to Saturday between 10 am and 4 pm.