The government of India has a<\/span>pproved capital infusion of \u20b94,400 crores to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd<\/strong>.) over a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026.<\/span><\/p>\n ECGC <\/b>was established by the Government of India under the Companies Act in 1957<\/strong>.<\/span><\/p>\n Aim:<\/b> To promote exports by providing credit insurance services to exporters against non-payment risks by the overseas buyers due to commercial and political reasons. It also provides insurance covers to banks against risks in export credit lending to the exporter borrowers<\/span><\/p>\n Nodal Ministry:<\/b> It functions under the administrative control of the Ministry of Commerce & Industry<\/strong> and is managed by a Board of Directors<\/strong> comprising representatives of the Government, Reserve Bank of India, banking, and insurance and exporting community.<\/span><\/p>\n ECGC is a market leader with around 85% market share in the export credit insurance market in India<\/span><\/p>\n ECGC insures around 50% of total export credit disbursement by banks, covering 22 banks (12 Public Sector Banks and 10 Private Sector Banks).<\/span><\/p>\n ECGC plays a wider role in supporting exports from labour-intensive sectors and encouraging bank lending to enterprises of small exporters thereby leading to their revival.\u00a0<\/span><\/p>\n Capital infusion in ECGC will enable it to expand its coverage to export-oriented industries, particularly labour-intensive sectors.<\/span><\/p>\n Source:<\/b> \u00a0<\/b>This post is based on the article <\/span>\u201c<\/b>Government approves Rs. 4,400 crore investment in ECGC Ltd<\/b>\u201d <\/b>published in<\/span> PIB <\/b>on <\/span>30th Sep 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The government of India has approved capital infusion of \u20b94,400 crores to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.) over a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026. About ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.)… Continue reading Government approves Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[9218,8782,10080],"class_list":["post-138396","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-exports-promotion","tag-government-policies-and-interventions","tag-remission-of-duties-and-taxes-and-exported-products","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700770974,"cached_date":1704945449},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/138396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=138396"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/138396\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=138396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=138396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=138396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.)<\/b><\/h5>\n
Performance of ECGC<\/b><\/h5>\n
How will the capital infusion help ECGC?<\/b><\/h5>\n