Section 14 of The Export-Import Bank of India Act, 1981
Grants, donations, etc., to Exim Bank.
The Exim Bank may receive gifts, grants, donations or benefactions from Government or any other source in or outside India.
Summary
- The Exim Bank has the legal right to receive various forms of financial gifts.
- It can accept grants, donations, or benefactions.
- These funds can come directly from the Government.
- The bank is also allowed to receive these funds from any other source.
- These sources can be located either inside India or outside of India.
Practical examples
FAQ
1. Is the Exim Bank allowed to accept money from sources outside of India?
Yes, the bank may receive grants or donations from any source in or outside India.
2. Can the government give a gift to the Exim Bank?
Yes, the bank may receive gifts, grants, or donations from the Government.
3. What types of financial contributions can the bank accept?
It can receive gifts, grants, donations, or benefactions.
4. Does the bank need a specific reason to accept a donation under this section?
The section simply states that the bank may receive these funds without listing specific restrictions on the reason.
Test yourself
Q1.Under Section 14 of The Export-Import Bank of India Act, 1981, from which geographical area can the bank receive donations?
Q2.Which of the following is NOT listed as something the Exim Bank may receive under Section 14 of The Export-Import Bank of India Act, 1981?
Q3.Who is specifically mentioned as a potential provider of grants to the Exim Bank in Section 14 of The Export-Import Bank of India Act, 1981?
Q4.What is the primary purpose of Section 14 of The Export-Import Bank of India Act, 1981?