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Section 2 – The Export-Import Bank of India Act,1981

The Export-Import Bank of India Act,1981

2. Definitions.

In this Act, unless the context otherwise requires,-

(a) “Board” means the Board of Directors of the Exim Bank referred to in section 6;

(b) “Development Bank” means the Industrial Development Bank of India established under the Industrial Development Bank of India Act,1964;

(c) “Exim Bank” means the Export-Import Bank of India established under section 3;

(d) “Export” and “import” mean, respectively, export from or import into India or any other country of goods or services, or both;

(e) “goods” includes all materials, commodities and articles in a solid, liquid or gaseous state and all forms of energy; (f) “notification” means a notification published in the Official Gazette;

(g) “Prescribed” means by regulations made under this Act;

(h) “Reserve Bank” means the Reserve Bank of India constituted under the Reserve Bank of India Act,1934;

(i) “Scheduled bank” means a bank, for the time being, included in the Second Schedule to the Reserve Bank of India Act,1934;

(j) “Services” includes,-

(I) Providing personnel (including skilled or unskilled workmen and persons for rendering technical or other services) for the purposes of any work or project (by whatever name called) or any activity;

(II) Transferring of technology, including transferring, or securing the transfer of rights, know-how, expertises or other skill with respect to any patent, invention, model design, secret formula or process or similar property;

(III) Furnishing any information, blueprints, plans, or advice with respect to any matter; and

(IV) Making available any other resources.

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The Export-Import Bank of India Act,1981

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