#1
29th February 2016, 06:07 PM
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What Is ECGC Scheme
I am making final year project report on the topic ECGC Ltd. And want to know more about this organization heard about the ECGC Scheme. Will you please tell me what is ECGC Scheme provide all details related to this and also provide me functions done or performed by ECGC?
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#2
29th February 2016, 06:21 PM
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Re: What Is ECGC Scheme
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. ECGC SCHEMES In order to provide export credit insurance support to Indian exporters, the Government of India set up the ‘Export Credit Guarantee Corporation of India Limited (ECGC). Functions of ECGC: Provides a range of credit risk insurance covers to exporters against loss in export of goods and services 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 ECGC Scheme details: The covers issued by ECGC can be divided broadly into four groups: 1. Standard Policy Shipments (Comprehensive Risks) Policy, which is commonly known as the Standard Policy, is the one ideally suited to cover risks in respect of goods exported on short term credit. 2. Other Specific Policies Specific Policies are designed to protect Indian firms against payment risks involved in a) Exports on deferred terms of payment b) Services rendered to foreign parties and c) Construction works and turnkey Projects undertaken abroad. 3. Financial Guarantees Financial Guarantees are issued to banks in India to protect them from risks of loss involved in their extending financial support at pre-shipment and post-shipment stages. These also cover a host of non-fund based facilities that are extended to exporters. Export Performance Guarantee Export Performance Guarantee is an insurance cover for banks, which issues various kinds of guarantees on behalf of exporters in order to facilitate export transactions 4. Special Schemes Transfer Guarantee meant to protect banks which add confirmation to Letters of Credit opened by foreign banks, Insurance cover for Buyers Credit and Lines of Credit, and Exchange Fluctuation Risk Insurance. Contact: ECGC Ltd. Express Towers,10th Floor, Nariman Point Mumbai, Maharashtra 400021 Phone:022 6659 0500 |