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Section 11 – The Export-Import Bank of India Act,1981

The Export-Import Bank of India Act,1981

11. Loans by Central Government.

The Central Government may, after due appropriation made by Parliament by law in this behalf, advances to the Exim Bank-

(a) a loan of twenty crores of rupees at a rate of interest of five and a quarter per cent. per annum repayable in fifteen equal annual installments, commencing on the expiry of a period of fifteen years from the date of receipt of the loan; and

(b) Such further sums of money by way of loan on such terms and conditions as may be agreed upon:

Provided that the Central Government may, on a request being made to it by the Exim Bank, increase the number of installments or alter the amount of any instalment or vary the date on which any installment is payable under clause (a).

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The Export-Import Bank of India Act,1981

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