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Our Bureau

Mumbai , April 20

Bank of India (BoI) and Exim Bank have agreed to assist each other in areas of common business interest. Mr M. Balachandran, CMD, BoI and Mr T.C. Venkat Subramanian, CMD, Exim Bank have signed a memorandum of cooperation to collaborate on a non-exclusive basis in areas such as international cooperation, co-arranging syndicate rupee and foreign currency loans, and jointly financing overseas projects/ export-oriented units.

Both banks will also exchange information and provide advisory services to each other along with assistance in employee training. BoI will be one of the major designated banks to handle export contracts, covered under Exim Bank's line of credit to entities in Africa and South East Asia. It will also help Exim Bank raise resources abroad, including instruments aimed at NRIs and overseas corporate bodies.

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