Mumbai, February 27, 2023: Export-Import Bank of India (India Exim Bank) and RBL Bank  have concluded a Confirming Bank Agreement in Mumbai on February 27, 2023, in the presence of Ms. Harsha Bangari, Managing Director, India Exim Bank and Mr. R Subramaniakumar, MD & CEO, RBL Bank, thereby onboarding RBL Bank Ltd. under India Exim Bank’s Trade Assistance Programme (TAP).

Trade finance is a critical element for cross-border trade, and in many cases the movement of goods across borders, particularly in emerging markets, cannot occur without it. However, trade finance remains vulnerable to economic crises despite being a low-risk asset class. In sync with the global trade demands and the growing need after the onset of the pandemic, there has been a need for a more robust trade finance programme.  

With this backdrop, India Exim Bank has developed a new trade facilitation initiative Trade Assistance Programme (TAP). Under TAP, India Exim Bank provides support through credit enhancement to trade instrument(s), thereby enhancing the capacity of commercial banks/financial institutions to support cross-border trade transactions involving markets where trade lines are constrained or where the potential has not been harnessed, and transactions may not materialise in the absence of such support. 

Speaking on the occasion, Ms. Harsha Bangari, Managing Director, India Exim Bank  said “ We are pleased to partner with RBL Bank and on-board them on India Exim Bank’s Trade Assistance Programme, to support cross border trade transactions. Under the programme, India Exim Bank has already supported multiple trade transactions covering a wide range of sectors including agriculture, automotive and automotive parts, capital and engineering goods, food, iron & steel and textiles involving exports to geographies in Africa, Asia and Latin America.”

Mr. R Subramaniakumar, MD & CEO, RBL Bank said, “We are happy to partner with India Exim Bank. We believe that our customer-centric approach backed by strong technological offering will be amplified aptly through India Exim Bank’s global network. The financing structure of this arrangement provides us with an opportunity to offer trade services in untapped markets while lowering the risks associated with global trade.”

About India Exim Bank:

India Exim Bank was set up in 1982 by an Act of Parliament and is fully owned by the Government of India. It is the principal financial institution for coordinating the working of institutions engaged in financing exports and imports.  India Exim Bank, has over the years, played a catalytic role in facilitating India’s integration with the global economy by promoting, financing and facilitating India’s international trade and investment. The Bank’s range of programmes have helped Indian enterprises become competitive and develop a global footprint.

About RBL Bank

RBL Bank is one of India’s leading private sector banks with an expanding presence across the country. The Bank offers specialized services under five business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets and Treasury and Financial Markets Operations. It currently services over 12 million customers through a network of 516 branches; 1,168 business correspondent branches (of which 298 banking outlets) and 413 ATMs (total customer touchpoint 2,097) spread across 28 Indian states and Union Territories

RBL Bank is listed on both NSE and BSE (RBLBANK).

Media enquiries

India Exim Bank
Rupesh Kumar Sharma
Deputy General Manager
Tel: +91-22-22172693
E-mail: tap@eximbankindia.in