Export-Import Bank of India (EXIM Bank) was given a special refinance limit of $ billion as also extended a special forex swap facility as in case of banks with overseas branches. RBI’s response as debt manager To contain the knock on effects of the global slowdown, the Government of India announced three fiscal stimulus packages during December 2008-February 2009.
I believe that the important factor now is for all parties to ensure that no time is lost in putting these recommendations into practice, especially as the macroeconomic and financial setting is not likely to remain as favourable as it is at the moment. At this interim point, ladies and gentlemen, let me take a moment to recount a personal experience.