RBL Bank signs an agreement with Exim Bank for trade finance.

Private lender RBL Bank on Monday (27th February 2023) announced it has entered into an agreement with Export-Import Bank of India (India Exim Bank) under Trade Assistance Programme (TAP) to support cross-border trade transactions.

Under trade assistance programme (TAP) for cross-border transactions, Export-Import Bank of India (India Exim Bank)

Aim : To facilitate India’s exports globally by providing credit enhancement to trade instruments.

* With Exim Bank’s support, RBL Bank will be able to gain footholds in nations, where trade lines are constrained, said RBL Bank in its filing.

* Through the programme, India Exim Bank will extend trade lines into the participating overseas banks/institutions in the emerging markets. The credit enhancements to trade instruments provided under TAP, will help mobilise trade finance and would increase support to Indian exporters.

* On February 27, 2023, in the presence of Ms. Harsha B. Bangari, Managing Director – India Exim Bank, and Mr. R. Subramaniakumar, MD & CEO, RBL Bank, the agreement was signed at India Exim Bank’s headquarters in Cuffe Parade.

RBL Bank Shares :

* RBL Bank Limited shares were last seen trading on the BSE for Rs. 152.40, down from the previous close of Rs. 153.15.

* A total of 352441 shares were moved in roughly 3021 trades during the day.

* The stock’s intraday high and low were Rs. 154.40 and 150.70, respectively. The daily net turnover was Rs. 53685938.00.

* The company’s stock ended the day on the BSE down 0.098 percent to 153...

Source : Mint