Nomination of Shri M V Rao, MD CEO Central Bank of India as Director on the Board of Exim Bank.

## Report on Nomination of Director to the Board of Export Import Bank of India **1. Executive Summary:** This report analyzes a notification from the Ministry of Finance, Department of Financial Services, regarding the nomination of a Director to the Board of the Export Import Bank of India (Exim Bank). This is an amendment replacing one director with another. The core purpose is to ensure continued governance and oversight of Exim Bank's operations. The key finding is the immediate replacement of Shri Rajkiran Rai G with Shri M. V. Rao as Director. **2. Introduction:** This report provides information regarding the nomination of a Director to the Board of the Export Import Bank of India (Exim Bank) based on the notification S.O. 4409(E) issued by the Ministry of Finance on September 21, 2022. The analysis is based solely on the provided text. **3. Policy Overview:** * This is an amendment to the existing framework governing the Board of Directors of the Export Import Bank of India, established under the Export Import Bank of India Act, 1981. * **Core Objective(s) as Inferred:** The core objective, as inferred from the provided text, is to maintain the operational effectiveness and governance structure of the Export Import Bank of India by ensuring the presence of qualified directors on its board. **4. Background and Rationale:** * This is an amendment to replace a director. The likely reason for this specific amendment is a change in circumstances related to Shri Rajkiran Rai G's tenure or position, necessitating a replacement to ensure the Board has the appropriate expertise and representation. **5. Key Provisions / Changes:** * **Specific Part of the Original Policy Being Changed:** The amendment pertains to the composition of the Board of Directors of the Export Import Bank of India, specifically regarding the director nominated by the Central Government under Section 6(1)(e)(ii) of the Export Import Bank of India Act, 1981. * **New Rule/Provision:** Shri M. V. Rao, MD & CEO, Central Bank of India, is nominated as Director on the Board of Exim Bank, replacing Shri Rajkiran Rai G. The nomination is effective immediately and until further orders. * **Difference/Effect of Change:** The change replaces one director with another. The effect is the transition of directorial responsibilities and potentially the infusion of a different perspective or expertise from the new director (M. V. Rao). **6. Target Audience and Stakeholders:** Based on the text, the stakeholders directly affected by this change include: * The Export Import Bank of India (Exim Bank) and its Board of Directors. * The Central Bank of India (due to the involvement of its MD & CEO). * The Ministry of Finance, Department of Financial Services. * Organizations and individuals who interact with Exim Bank, as the composition of the board can influence the bank's strategic decisions. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Finance, Department of Financial Services, is responsible for issuing the notification and enacting the change. Exim Bank is responsible for integrating the new director into its Board. * **Timelines/Procedures:** The change is effective "with immediate effect," indicating an immediate transition of responsibilities. No other specific procedures are detailed in the text. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this change is a seamless transition in the directorship role at Exim Bank, ensuring the continued effective governance and operation of the bank. The impact of this change will depend on the specific expertise and contributions of the new director, Shri M. V. Rao, and how this impacts the bank's strategic direction and operational effectiveness. **9. Conclusion:** The notification S.O. 4409(E) signifies a change in the Board of Directors of the Export Import Bank of India, with Shri M. V. Rao replacing Shri Rajkiran Rai G as Director. This amendment aims to maintain effective governance and oversight of Exim Bank, a crucial institution for promoting India's international trade.

Key Entities Referenced