| 12th May 2017 04:08 PM | |
| shikha | Re: What Are The Role Of ECGC The ECGC or Export Credit Guarantee Corporation of India Limited is a company wholly owned by the Government of India. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce. Government of India had initially set up Export Risks Insurance Corporation (ERIC) in July 1957. It was transformed into Export Credit and Guarantee Corporation Limited (ECGC) in 1964 and to Export Credit Guarantee of India in 1983. The ECGC is Provides a range of credit risk insurance covers to exporters against loss in export of goods and services as well. This is also Offers guarantees to banks and financial institutions to enable exporters to obtain better facilities from them. Need to ECGC: Risks Covered : Commercial Risks Insolvency of buyer / LC opening bank Protracted Default of buyer Repudiation by buyer Political Risks War / civil war / revolutions Import restrictions Exchange transfer delay / embargo Any other cause attributable to importing country Products offered to Exporters : Standard Policy Small Exporters policy Specific Shipment Policy (short term) Export Turnover policy Specific buyer wise policy Consignment export ( Stock holding agent)policy Consignment export (Global entity) policy Single buyer exposure policy Multi buyer exposure policy Software project exports policy IT enabled (single customer) policy IT enabled (multi customer) policy SME Policy Customer specific policy (Tailor made) Notable Records: Largest Policy – short term Rs.450 crores Largest database on buyers 8 lakhs Largest credit limit Rs.80 Crores Largest claim paid Rs.540 crores Quickest claim paid 2 days Highest compensation-Iraq Rs 788 Crores |
| 12th May 2017 03:42 PM | |
| Unregistered | What Are The Role Of ECGC Hello sir, is there any one can provide me detail for to understand the role of ECGC? Please tell me what are the roles of ECGC? |
