Exim Bank & Dgft MCQ

EXIM was set up in 1981. This means that the Export & Import organization was established in the year 1981.

EXIM Bank is wholly owned by the Government of India. This means that the government has complete control and ownership over the bank. As a result, the government is responsible for making all the major decisions regarding the bank's operations, policies, and strategies. This also implies that the government has the authority to appoint the bank's board of directors and top management. Being wholly owned by the government ensures that the bank operates in alignment with the government's objectives and priorities, and it also allows the government to use the bank as a tool for promoting international trade and economic development.

The headquarters of EXIM Bank is located in Mumbai.

The objective of setting up EXIM Bank by the Government of India is to enhance exports from India and integrate the country's foreign trade and investment with the overall economic growth. This is achieved by providing Lines of Credit (LOC) to Indian exporters, which enables them to enter new geographies and explore enhanced export opportunities. By facilitating international trade and investment, the bank contributes to the economic growth of the nation.

The main function of EXIM bank is to grant direct loans in India and outside for the purpose of import and export. This means that the bank provides financial assistance to businesses involved in international trade, allowing them to finance their import and export activities. This function helps to facilitate trade and promote economic growth by providing the necessary funds for businesses to engage in international commerce.

The office of the DGFT is responsible for formulating and executing the Exim policy. This means that statement 1 is true. The E-Biz project was launched in 2009, which means that statement 2 is also true. Therefore, both statements 1 and 2 are true.

The correct answer is Delhi because the question is asking for the headquarters of DGFT (Directorate General of Foreign Trade). DGFT is an organization under the Ministry of Commerce and Industry in India, and its headquarters is located in Delhi.

India's position in terms of export growth rate in the world is seventh. This means that India's export growth rate is ranked seventh among all countries in the world. It implies that there are six other countries whose export growth rates are higher than India's.

The correct answer is 1991. The Directorate General of Foreign Trade (DGFT) organization was established in 1991.

The first statement is true because the EXIM bank was indeed created by an Act of Parliament. The second statement is false because the bank does not work under the finance ministry, it works under the Ministry of Commerce. The third statement is true because the primary objective of the EXIM bank is to help export-related companies. Therefore, the correct answer is 1 & 3 only.