India Ratings and Research (Ind-Ra) has affirmed Export-Import Bank of India's (EXIM) Long-Term Issuer Rating at 'IND AAA' with a stable outlook. The rating agency has also affirmed EXIM's term deposits programme at 'IND tAAA' with a stable outlook.

EXIM's ratings reflect the high probability of continued timely support from the government of India (GoI). The expectation is based on EXIM's policy role of financing, facilitating, and promoting India’s foreign trade, and its strong links with GoI, which wholly owns EXIM. GoI appoints EXIM's board of directors according to the statutes of the Export-Import Bank of India Act 1981, under which the latter is established. EXIM's board has representation from the ministries of Finance, Commerce & Industry, and External Affairs.  

EXIM's policy objectives are to facilitate export credit and to develop export-generation capabilities among Indian companies. It also acts as an agent of the government by extending lines of credit (LoCs) to various economies (mostly developing), according to the requirements of GoI. Exposure under the LoC segment forms a growing proportion of EXIM's loan portfolio, and is entirely guaranteed by the government. Ind-Ra expects GoI support for EXIM to continue given the importance of EXIM's role in implementing GoI's foreign trade policies.