Key Points
Last year ECGC Ltd extended cover under Export Credit Insurance for banks (ECIB) scheme for the accounts with export credit working capital limits up to Rs 20 crore sanctioned by the banks with enhanced cover of 90%, Goyal said.AgenciesThe.
It has also increased its insurance cover for exporters with a credit limit of up to Rs 50 crore to 90% and extended its cover to nine more banks...
For nine banks where six-year claim to premium ratio is less than 70%, cover for accounts with export credit working capital limits up to Rs 20 crore, will be offered enhanced cover of 90% without any additional cost provided the banks are extending the export credit at an interest rate corresponding to the accounts rated AA (or with equivalent rating)...
The business covered value is expected to increase to more than Rs 10 lakh crore in the current fiscal, Senthilnathan said.. ECGC will also provide enhanced cover under the policy covers (providing protection against commercial and political risks on account of the overseas buyers) issued to the exporters in the policies available for sale in all the channels...
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