To boost India's exports, Exim Bank plans to engage soon in export factoring business, providing SMEs with partial or full guarantees to cover debtor non-payment risk. The start of operations is organized for the fiscal year 2023.
According to Harsha Bangari, Managing Director of Exim Bank, the export factoring operations will be delivered either through a wholly-owned subsidiary, a branch, or as a departmental operation. The banking institution would also fully implement its trade assistance program (TAP).
