The Export-Import Bank of India was established in 1981 by the Indian parliament to provide financial assistance to importers and exporters, serving as the country's apex financial institution for foreign trade. It offers various services including financing for exports, imports, overseas investments, and sectors like agriculture and small and medium enterprises. The bank is wholly government-owned and works to promote and finance foreign trade through loans, credit guarantees, and other financial services. It also has institutional linkages with various international organizations to facilitate trade and investment activities. India's foreign exchange reserves managed by the bank grew significantly in the late 2000s before declining during the global financial crisis, but had risen again to over $298 billion by the end of 2010.