ECGC Bank Meaning

hii sir, I wants to know about the ECGC Bank will you please provide me some information about the ECGC Limited ?

[Shaleen]

The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.

Records of the ECGC :
Largest credit limit Rs.80 Crores
Largest claim paid Rs.120 crores
Quickest claim paid 2 days
Highest compensation-Iraq Rs 788 Cror



Key roles of ECGC:

Provides a range of credit risk insurance covers to exporters against loss in export of goods and services as well.
Offers guarantees to banks and financial institutions to enable exporters to obtain better facilities from them.
Provides Overseas Investment Insurance to Indian companies investing in joint ventures abroad in the form of equity or loan.

For Exporters :

Offers insurance protection to exporters against payment risks
Provides guidance in export-related activities
Makes available information on different countries with its own credit ratings
Makes it easy to obtain export finance from banks/financial institutions
Assists exporters in recovering bad debt
Provides information on credit-worthiness of overseas buyers